Author: scottmenges-com

Canada's affordability reading reached ~41% in Q2 2026 after an 11th straight quarterly improvement, helped by lower prices, lower borrowing costs, and rising incomes.
Even after ~13 ppts of improvement from the recent peak, ownership stayed difficult nationally, with housing costs still taking roughly two-fifths of avg. household income.
The measure may look somewhat better than many households feel because it uses avg. disposable income, not median income, which can overstate affordability.
A bank economist said the recent reset reflected earlier rate cuts, a ~20% national price decline from the 2022 peak, and stronger personal incomes.
Looking ahead, slow income gains and limited rate relief leave more of the adjustment to prices, making further national declines still possible.

Across BC, standing inventory totaled 6.7K homes, including 5.5K condos, and the count covered condos, townhomes, plus some multiplex units provincewide.
Among tracked BC cities, Burnaby led with 1.21K unsold homes, followed by Vancouver at 1.02K, Surrey at 798, and Coquitlam at 620.
Richmond recorded 396 units, Kelowna 372, Langley Township 276, New Westminster 224, and Delta 211, showing inventory spread well beyond BC's largest markets.
Additional BC counts included Langford 188, Esquimalt 173, the City of North Vancouver 135, Abbotsford 118, and Chilliwack 100; listed cities totaled 5.84K.
A common presale narrative blamed mainly studios and one-beds, but broader BC size and avg. price data pointed to a different story.

National Day for Truth and Reconciliation honours survivors and raises awareness about their experiences.
It's a symbol of Canada's commitment to reconciliation with Indigenous communities.
Wearing orange shirts on this day symbolizes respect for survivors and raises awareness about residential schools.
May this day inspire a future where every voice is heard, and every spirit is healed.
Together, we can create a tomorrow filled with hope and endless possibilities.

Analysts expected Canada’s avg. home prices to edge higher by end-2026, signaling gradual recovery after recent fluctuations and an extended period of relative stagnation.
Expected lower interest rates, continued population growth, and persistent housing shortages in many urban centers were cited as key supports for price gains.
An economist at a major bank said the market was showing resilience, even as affordability remained a concern for many Canadians nationwide.
Price growth was expected to vary across Canada, with larger metropolitan markets potentially seeing stronger gains while smaller markets stayed relatively stable.
Experts advised buyers and sellers to watch market trends closely and weigh longer-term factors when making decisions in Canada’s shifting housing landscape.
The national outlook stayed cautiously optimistic, with Canada’s housing market expected to keep recovering and grow at a measured pace through 2026.

We're seeing a shift in Canadian housing: buyers are taking their time, weighing options, and approaching every step with greater care. Economic factors are encouraging thoughtful planning, which means both buyers and sellers can pause, reflect, and make decisions they feel good about. As someone who values clear guidance and honest advice, I appreciate this move towards more balanced, informed choices. People are coming to the table with a deeper understanding of financing and are doing their due diligence, making every transaction more strategic and transparent. It's encouraging to see technology and AI being adopted to streamline the process further, supporting a real estate experience where integrity and professionalism truly matter.

CMHC expects housing conditions to improve gradually in 2027 as incomes and economic growth strengthen.
Sales should recover, but CMHC expects activity to remain below the typical levels seen during the previous decade.
CREA forecasts only modest national price growth, suggesting stabilization rather than another major price surge.
Higher inventory and weaker demand in some markets could continue giving buyers more negotiating room.

Watching the direction of Canadian home prices is always top of mind for buyers and sellers in the Greater Vancouver area. Even with slower economic growth and more cautious sentiment among buyers, we’re still seeing home prices hold steady—largely due to limited housing supply in key metropolitan markets. Ongoing population growth is another major factor fueling long-term demand. Most analysts are forecasting modest national price growth that will carry through to the end of 2026. As someone committed to honest, upfront guidance, I keep a close watch on these trends to help you make the best decisions for your real estate goals.

There’s a sense of cautious optimism building in Canada’s housing market. Recent data shows some positive movement: resales are picking up, inventory is holding steady, and prices are leveling out as affordability and job stability help rebuild buyer confidence. One of the big questions I’m watching is how quickly those who’ve been waiting on the sidelines—many of whom have strengthened their financial position—will feel ready to step into the market. For 2026, forecasts point to a roughly 4% dip in resales, down to about 453,000 units, and a 2% decrease in benchmark prices to approximately $794,000. Modest gains are expected to return in 2027. Borrowing costs are likely nearing their lows, with the central bank expected to hold rates, but there are still risks like trade tensions and potential energy price spikes that could affect this momentum. Looking ahead, every province is projected to see both resales and prices rise in 2027—though the recovery is expected to be steady and gradual, not dramatic. As always, I’m here to offer honest, practical guidance for navigating these shifts, especially if you’re weighing your options in the Greater Vancouver market.