Owning a home became more affordable in Canada but gains are slimmer

Progress so far is material but still comes short

Series of interest rate cuts since mid-2024 and falling prices in parts of the country have significantly lowered ownership costs in the past seven quarters.

But, they’ve only partly reversed the historic spike from soaring prices during the pandemic, and the central bank’s aggressive rate hike campaign to fight inflation.

This is true coast to coast. Buyers in every corner of the country still find it less affordable to own a home today than before the pandemic.

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