Sharing some encouraging news for those keeping an eye on the housing market—July brought a welcome improvement in affordability across much of Canada. Home prices dipped in 10 out of 13 major markets, especially in Vancouver, Hamilton, and Regina. As a result, the income required to qualify for a mortgage dropped slightly, and a minor decrease in mortgage rates added a bit more breathing room for buyers. While rates played a small part, it’s really the price adjustments that opened up new possibilities this month. As someone who is always tracking the latest market insights for my clients, I see these shifts as valuable opportunities for both buyers and investors. If you’re considering your next steps, understanding the nuance of recent changes can help you make the most informed decisions.
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