Housing Affordability Has Returned To 2021 Levels

Canada’s housing market is entering one of its most unusual periods in years. On a national level, affordability has returned to roughly 2021 levels, yet Vancouver home sales remain more than 50% below where they were at the same point that year. The difference may have less to do with affordability and far more to do with confidence. In 2021, rapidly rising prices gave buyers confidence that purchasing a home was relatively safe because waiting could mean paying significantly more. Today, ...