Homeownership in Canada is slightly more affordable, but the pace of improvement is slowing.
RBC’s affordability index fell to 53.2%, down from a pandemic peak of 63.5%.
Most affordability gains came from markets where prices have softened, though costs remain elevated overall.
Some regions saw smaller improvements, while a few experienced affordability pressures increasing.
Future gains depend on household income growth and price corrections, as interest rates are expected to stay steady.
Canada Condo Fees Buyers Should Know
Condo fees are monthly payments covering shared building costs, including maintenance, amenities, common services, and sometimes utilities, separate from mortgage
