Housing affordability has seen its 10th consecutive quarter of improvement, thanks to declining home prices balancing out the effects of rising mortgage rates. Currently, mortgage payments account for 51.1% of the median income—a figure worth watching closely. While Vancouver continues to be the least affordable market, the path forward depends on how incomes grow and how well price increases are managed. With over 15 years in the GTA and Ontario real estate market, I’ve witnessed firsthand how changing affordability shapes our decisions, whether you’re buying, selling, or investing. Understanding these trends is key to making informed choices and achieving your real estate goals.
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