It’s encouraging to see some positive shifts in Vancouver’s housing affordability, especially for those of us who have spent decades guiding clients through the ups and downs of this remarkable market. Late in Q2 2026, Vancouver experienced the largest gain in affordability of any major region, with a notable 2.9% drop in representative home prices helping to offset the effect of firmer mortgage rates. That translated into a 2.6-point drop in the mortgage-payment-to-income ratio this quarter—welcome news for buyers who’ve been feeling the pinch.

Yet, even with these improvements, Vancouver remains Canada’s least affordable market, where the mortgage payment on a typical home still claims 79.4% of median income. This shift is significant because, as one economist noted, affordability gains are now coming from falling prices, not from lower mortgage rates. Vancouver was one of just six Canadian markets to see improvement this quarter, emphasizing that price moderation is now the key lever for making home ownership more accessible.

Having spent over 30 years helping buyers and sellers navigate Greater Vancouver and the Fraser Valley, I know how complex these changes can feel. My goal is always to help you make sense of the numbers, avoid costly pitfalls, and move forward with confidence—whether you’re looking for your first home or maximizing the sale of your current property.