06/30/2026
🌅 Vancouver Market Morning — June 30, 2026
Housing affordability hits a 4-year best — but the window may be closing
• RBC reports Canada's housing affordability measure fell to 53% in Q1 2026, the best reading in four years. Vancouver led the gains — though it remains Canada's least affordable market alongside Toronto. Condos have seen the sharpest improvement, with the national condo affordability measure back within a point of pre-pandemic levels.
• Canada's economy is rebounding — GDP expanded 0.5% in April (beating expectations) and is on track for 2.3% annualized growth in Q2, ending six months of stagnation. BMO's chief economist says this should "silence the recession chatter," but growth remains below potential, keeping rate cuts on the table.
• The Carney-Eby housing deal is getting mixed reactions from B.C. developers — the $3.2B pledge to cut development charges by up to 50% on multi-unit housing is ambitious, but builders are cautious about whether it'll actually translate to lower prices for buyers.
💡 Sasha's take: Condo affordability is back to 2019 levels and the economy is stabilizing — that's a rare combo for Vancouver buyers. But RBC warns the relief is tapering: prices are stabilizing and no more rate cuts are expected this year. If you've been waiting on the sidelines, the math is getting better but the window won't stay open forever.
DM me if you want to talk strategy about buying or selling in this market.
