Canada’s housing affordability continues to be a significant challenge, even after steady improvements over the past eleven quarters. In Q2 2026, affordability stood at around 41%, thanks to lower prices, reduced borrowing costs, and rising incomes. Despite a roughly 13 percentage point improvement since the peak, owning a home still means that about two-fifths of the average household income goes toward housing. It’s important to note that the official measure uses average disposable income, which doesn’t always reflect what many families actually experience—median incomes often paint a different picture. According to a bank economist, these changes have been driven by earlier rate cuts, a national price drop of about 20% since 2022, and stronger personal incomes. However, with income growth expected to remain slow and limited relief from interest rates on the horizon, future improvements may rely more on further price adjustments. As someone who works with both residential and commercial buyers and sellers in Laval and the surrounding regions, I keep a close eye on these affordability trends to support clients in making informed decisions.
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