Homeownership Costs in Canada

Fall to most affordable level in three years

Its latest national affordability measure dropped to 55.1% in the first quarter of 2025, down from 60.7% a year ago. The improvement was driven by interest rate cuts, small declines in home prices, and steady household income growth.

But while conditions are improving, affordability remains far from pre-pandemic levels. “Steady improvements in the past five quarters have reversed only roughly a third of the loss of affordability nationwide,” Hogue said. “Buying conditions remain extremely challenging in many major markets.

Vancouver, Toronto still the least affordable markets

“Affordability will remain a huge issue in many parts of the country—and a major obstacle hindering recovery,”

Full Read:

• https://www.canadianmortgagetrends.com/2025/07/homeownership-costs-in-canada-fall-to-most-affordable-level-in-three-years/