Housing affordability improved in July from June

July brought a welcome shift for buyers, as housing affordability saw an uptick compared to June. Home prices dropped in 10 out of 13 major Canadian markets—places like Vancouver, Hamilton, and Regina included—making it a bit easier for hopeful homeowners to qualify for mortgages. While mortgage rates nudged down slightly, it was really the price adjustments that opened the door for more buyers. As someone who’s seen firsthand how price trends impact clients across neighborhoods like Central Lonsdale, Westwood Plateau, and Downtown Vancouver, I know these changes can make a real difference when you’re planning your next move.