Housing affordability across Canada continues to be a major topic for families and individuals planning their next move. In Q2 2026, the national affordability reading reached around 41%, marking the 11th quarter in a row with some improvement. This progress has been driven by a combination of lower home prices, reduced borrowing costs, and stronger incomes. Still, even with about a 13-point improvement from the most challenging period, home ownership is taking up close to two-fifths of the average household’s income, so it’s understandable if it still feels out of reach for many.
It’s worth noting that these numbers are based on average disposable income, which doesn’t always reflect what most households experience day-to-day. As someone who walks alongside clients through every stage of buying or selling, I see firsthand how these broad figures don’t always match the reality families face, especially here in Edmonton. While economists point to easing rates and a significant price drop—around 20% nationally since the 2022 peak—the path forward still looks uncertain. If income growth remains slow and interest rate relief is limited, further home price adjustments might be on the horizon.
For anyone weighing their next step, know that the landscape is shifting, and having honest, local expertise makes all the difference. Your needs and goals remain my top priority as we navigate these changes together.
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