Falling home prices drive record 10th straight quarter of affordability gains

For the 10th quarter in a row, we’ve seen housing affordability improve—even as mortgage rates climb—thanks to declining home prices. At this point, payments now represent 51.1% of the median income. Yet, here in Vancouver, we’re still facing the country’s steepest affordability challenges. As your GREATER VANCOUVER real estate expert, I keep a close eye on these shifts. Going forward, real progress will depend on both income growth and keeping price increases in check. Navigating these changes is all about timing and local insight—something I bring to every client relationship.