09/21/2026
Canadian Housing Affordability Still Needs Improvement
Housing affordability in Canada has shown some progress, with the national measure reaching around 41% in Q2 2026—marking the 11th consecutive quarter of improvement. This shift has been supported by lower home prices, easing borrowing costs, and increasing incomes. However, even with about 13 percentage points of improvement from the recent peak, owning a home remains a significant challenge for many, as housing expenses still consume roughly two-fifths of the average household income. It’s important to remember that these figures reflect average disposable income, which can paint a more optimistic picture than what many households actually experience—especially here in Greater Vancouver. As someone who helps clients navigate our unique market, I see first-hand how real affordability is shaped not just by numbers, but by the day-to-day realities families face. Economists point out that earlier rate cuts, a national price pullback of about 20% since 2022, and stronger incomes have all played a role in this modest reset. Yet, with only slow income growth and limited room for further rate cuts, much of the adjustment may still need to come from prices—so further national declines remain possible. My focus is always on helping clients find the best fit for their budget, combining patience, professionalism, and care to guide you through these complex shifts.
