Home affordability improves in 10 of 13 Canadian cities in July

July brought encouraging news for those watching the Canadian housing market: home affordability improved in 10 out of 13 major cities, thanks to a dip in home prices. Notably, Vancouver experienced the largest drop in the income needed to purchase a home. We also saw a slight decrease in mortgage rates, with some discounted fixed-rate options still available below 4%. As someone deeply involved in the GTA real estate market, I know how shifts like these can open new doors for buyers and create timely opportunities for current homeowners. With over a decade of experience representing both sides of the transaction, I’m always monitoring these trends to help you make decisions that maximize value and fit your unique needs.