Regina continues to offer the most affordable homeownership profile of all the major cities in the country.
RBC Royal Bank has just released its updated assessment of home ownership affordability with Regina holding on to its enviable first-place ranking.
It takes just 27-percent of the average income to purchase the average home in Regina. And this is even after prices have been rising in a very tight marketplace where inventory is so slim, it is suppressing the volume of sales.
Simply put, if there were more houses on the market, there’d be more sales. There are plenty of buyers but not enough opportunities to buy.
Saskatoon was not far behind in third spot with the RBC aggregate measure of affordability sitting at 32-percent which is a couple points higher than the historic trend. However, the bank says affordability is improving with volumes exceeding pre-pandemic sales levels by 20-percent as signs of some slowing are beginning to surface.
While markets here remain quite robust, homeowners in Vancouver are experiencing something completely different: a market correction with values down nearly 10-percent.
