| Metropolis | January common house worth | February common house worth | Changein house costs | January mortgage fee | February mortgage fee | Change in funds | January revenue required | February revenue required | Change in come |
|---|---|---|---|---|---|---|---|---|---|
| Hamilton | $819,500 | $812,600 | -$6,900 | $4,294 | $4,194 | -$100 | $174,450 | $171,000 | -$3,450 |
| Toronto | $1,070,100 | $1,073,900 | $3,800 | $5,607 | $5,543 | -$64 | $223,290 | $221,200 | -$2,090 |
| Vancouver | $1,174,400 | $1,185,100 | $10,700 | $6,153 | $6,117 | -$36 | $243,600 | $242,600 | -$1,000 |
| Calgary | $573,100 | $576,800 | $3,700 | $3,003 | $2,977 | -$26 | $126,470 | $125,700 | -$770 |
| Victoria | $870,100 | $878,700 | $8,600 | $4,559 | $4,535 | -$24 | $184,300 | $183,700 | -$600 |
| Regina | $316,300 | $317,700 | $1,400 | $1,657 | $1,640 | -$17 | $76,470 | $75,910 | -$560 |
| St. John’s | $367,600 | $371,300 | $3,700 | $1,926 | $1,916 | -$10 | $86,450 | $86,210 | -$240 |
| Ottawa | $649,900 | $658,300 | $8,400 | $3,405 | $3,398 | -$7 | $141,420 | $141,340 | -$80 |
| Winnipeg | $363,200 | $373,700 | $10,500 | $1,903 | $1,929 | $26 | $85,600 | $86,670 | $1,070 |
| Montreal | $549,900 | $562,300 | $12,400 | $2,881 | $2,902 | $21 | $121,950 | $122,900 | $950 |
| Edmonton | $412,200 | $421,800 | $9,600 | $2,160 | $2,177 | $17 | $95,150 | $95,910 | $760 |
| Halifax | $550,500 | $561,400 | $10,900 | $2,884 | $2,898 | $14 | $122,070 | $122,730 | $660 |
| Fredericton | $338,800 | $343,800 | $5,000 | $1,775 | $1,775 | $0 | $80,850 | $80,920 | $70 |
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Canadian cities the place affordability improved
The place in Canada is proudly owning a house changing into extra inexpensive?
Hamilton: Bearing the correction brunt
In its newest knowledge report, CREA identified that whereas gross sales fell in two-thirds of all markets, Ontario’s Higher Golden Horseshoe was hit particularly onerous. That’s fairly obvious in Hamilton, the place transactions dropped 35% yr over yr in February, in accordance with the Realtors’ Affiliation of Hamilton-Burlington. That resulted within the metropolis’s common house worth reducing by $6,900, to $812,600; mixed with decrease mortgage charges, that cooled the required revenue by $3,450. The common month-to-month mortgage fee in Hamilton additionally dropped by $100 in comparison with January, to $4,194.
Toronto: A spring marked by slowing gross sales
Tariff fears have additionally taken a chew out of demand inside Ontario’s priciest housing market Toronto. Transactions plunged over 27% in Toronto in February, in accordance with the Toronto Regional Actual Property Board (TRREB). Whereas house costs held agency—town’s common ticked up by $3,800 month over month to $1,073,900 – mortgage charges had fallen by a big sufficient diploma to maneuver the affordability dial; the required revenue dropped by $2,090 in Toronto, together with the typical month-to-month mortgage fee; it fell $64 to $5,543.
Vancouver: Beneath the seasonal common
Early spring house gross sales have additionally dropped in Vancouver, down 11.7% yr over yr, and sitting a whopping 28.9% beneath the 10-year seasonal common, in accordance with the Higher Vancouver Realtors. Whereas transactions have corrected to a lesser diploma than what we’re seeing in Ontario, tariff issues have additionally shaken west-coast consumers, particularly as Vancouver actual property stays the most costly in Canada. House costs nonetheless rose by a median of $10,700 in February, to $1,174,400. Once more, decrease mortgage charges led to the typical month-to-month fee dipping barely, by $36, to $6,117, and the required revenue dropping by $1,000.
Canadian cities the place affordability worsened
Simply 5 of 13 cities noticed affordability worsen in February. These have been all markets in Canada the place consumers are much less constrained by excessive house costs—all with a median beneath $600,000 —and with a development of accelerating gross sales and shrinking provide.
Winnipeg: Into sellers’ market territory
Not like Canada’s largest cities, the Winnipeg housing market heated up in February. Based on the Winnipeg knowledge compiled by CREA, house gross sales elevated 13.4% yr over yr, whereas listings declined by 6.6%. That mixture pushed up costs. The town’s common rose $10,500 month over month to $373,700. Because of this, the required revenue wanted to qualify for a mortgage in Winnipeg elevated by $1,070. The common month-to-month mortgage fee additionally jumped by $26, to $1,929.
Montreal: Reaching pre-pandemic circumstances
Montreal continues to expertise sturdy actual property demand; in accordance with the Quebec Skilled Affiliation of Actual Property Brokers (QPAREB), February gross sales have been “similar to the 2 sturdy years previous the pandemic,” with a 7% year-over-year improve, introduced the group. Total, it stays a powerful sellers market, with bidding wars for single-family properties up 15%. That resulted in a $12,400 improve within the averaged Montreal house worth, to $562,300, and led to the required revenue rising by $950.
Edmonton: Gross sales proceed to rise
The Higher Edmonton Space (GEA) housing market kicked off the yr with sturdy house gross sales, and that development continued into February, with the Realtor’s Affiliation of Edmonton (RAE) reporting a 14.3% improve in transactions, additionally outstripping new listings.
