Housing affordability improved in July from June

July brought some welcome news for homebuyers: housing affordability improved across much of Canada compared to June. Home prices declined in 10 out of 13 major markets—including Vancouver, Hamilton, and Regina—which meant a reduced income was needed to qualify for a mortgage. While there was a small dip in mortgage rates, it was really these price adjustments that made the biggest difference for buyers. As someone who’s spent years helping clients make sense of shifting markets, I know how important it is to stay on top of these changes. If you’re considering your next move or simply want to understand how these trends might affect your plans, I’m always here to offer clear guidance.