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.