Although the average home prices have dropped over the past year in most Canadian cities, the amount of income required to purchase a home has actually increased. Affordability has become worse over the past year due to rising mortgage rates and stress tests put in place by lenders.  <a href="https://www.ctvnews.ca/business/here-s-how-much-income-is-needed-to-buy-a-home-in-major-canadian-cities-1.6362638">Canada real estate: How much income is needed to buy a home? | CTV News</a>

Here's how much income is needed to buy a home in major Canadian cities

Ali Marcoccia (formerly O’Neill) is an accomplished Realtor® with over 14 years of experience in the home improvement and real estate industry. With a strong background in Finance, Advertising, and Project Management, Ali has a proven track record of delivering exceptional results for her clients and employers alike.

Ali holds an Honours BCom in Finance from McMaster University, and most recently earned a post-graduate certification in Property Valuation from the University of British Columbia. In addition to serving her Real Estate clients, Ali is an active member of the Appraisal Institute of Canada. Ali prides herself in delivering the highest level of service to her clients, consecutively earning the Service Excellence Award each year in business. Ali earned the Red Diamond Award in 2020 and 2021, and the Individual President’s Gold Award in 2022.

Alexandra Marcoccia

Here's how much income is needed to buy a home in major Canadian cities

Canada real estate: How much income is needed to buy a home? | CTV News