Canada’s housing market is waking up for the spring selling season, but young prospective homebuyers would be justified to remain in a state of prolonged hibernation.
For over two years homes in much of the country have been getting more affordable, thanks to a mix of softer prices and, later, falling interest rates. The problem is that, for the most part, we are still nowhere close to pre-pandemic levels of affordability. With the exception of condos, owning a home remains far more expensive than it was before the last housing boom.
