Even though home prices made some small gains, incomes increased faster and Canadians saw a slightly improved picture in housing affordability through the fourth quarter of 2013, according to RBC’s latest Housing Trends and Affordability report. RBC Economics measures housing affordability in and across Canada by studying and reporting on the percentage of income required to pay for housing in various categories.
Closer to home, Saskatchewan home buyers saw a continuation of a “sideways trend” with affordability levels at historical norms as market activity was “quite stable at elevated levels for the second consecutive quarter.”
Right here in Saskatoon, home ownership costs as a percentage of income also remained stable across the three most popular housing types.
Read the entire RBC Housing Trends and Affordability report.
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