Falling home prices drive record 10th straight quarter of affordability gains

For the 10th quarter in a row, we’ve seen home affordability improve as falling prices have helped offset the pressure from rising mortgage rates. Right now, payments are at 51.1% of median income—a key figure for both buyers and sellers to keep in mind. While Vancouver continues to be Canada’s least affordable market, future improvements will depend on income growth and keeping price increases in check. With over a decade of experience in the GTA, I’ve guided clients through many market cycles, always focused on maximizing value and providing clear, strategic advice. Whether you’re looking to buy or sell, understanding these trends is essential for making confident decisions in the current landscape.