July brought a noticeable shift in home affordability across Canada, with 10 out of 13 major cities experiencing improved conditions. This change was mainly driven by falling home prices, and even here in Vancouver—where affordability has long been a challenge—we saw the largest drop in the income needed to purchase a home. Mortgage rates also inched down, and it’s still possible to find discounted fixed-rate mortgages below 4%. As someone who has navigated the local market both as an investor and through my real estate practice, I see these trends as welcome news for those considering their first purchase or next investment. The evolving landscape underscores the importance of a well-informed approach, whether you're entering the market for the first time or planning your next move.
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