Canada’s housing market saw the largest improvement in affordability in nearly four years in the first quarter of 2023, according to a report from economists at the National Bank of Canada.
in the first quarter of 2023, according to a report from economists at the National Bank of Canada.
The largest improvements occurred in Vancouver, which remains the least affordable Canadian city for buying a home, Hamilton and Toronto. The economists note that while the MPPI improved, it remains elevated and has not counteracted the huge rise in unaffordability observed during the COVID-19 pandemic.
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