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Here’s how home prices compare to incomes across Canada

globalnews.ca

What you can buy in housing markets across Canada for $500K, $1M and $1.5M National statistics show the average national home price is now more than seven times the average household income, according to data from the Canadian Real Estate Association and Statistics Canada.The average home price isn’t a perfect measure of what homebuyers are facing in the real world, as the metric can be swayed by variations in types of homes sold in a given period.

Still, the numbers provide a stark picture of how rapidly affordability is eroding.For more than a decade, home prices growing much faster than incomes was an issue largely limited to Vancouver and Toronto, two of the country’s priciest and most active real estate markets.In Greater Vancouver,.

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