As someone who lives and works in Vancouver real estate every day, I know how closely many of you track affordability shifts in our city. In late Q2 2026, Vancouver experienced the most significant affordability gain of any major Canadian market—a change driven by meaningful declines in home prices, even as mortgage rates stayed firm. To put it in perspective: the mortgage-payment-to-income ratio dropped by 2.6 points this quarter, following a 2.9% decrease in the representative home price. That’s a tangible improvement for many buyers, even as Vancouver continues to hold the title of Canada’s least affordable market, with mortgage payments still taking up 79.4% of median income. Economists are noting a clear shift: instead of lower rates, it’s price moderation driving relief for buyers right now. Vancouver was among six markets that saw affordability improve this quarter, underscoring just how important these pricing trends have become for anyone navigating the local housing landscape.