Over the past year, housing affordability has noticeably improved — driven by lower interest rates, softer home prices, and updated mortgage insurance guidelines that now allow longer amortizations and smaller down payments on properties up to $1.5 million.

That said, many buyers are still on the sidelines as economic uncertainty and lower consumer confidence continue to weigh on demand. The slower pace of growth and ongoing trade tensions with the U.S. have made some hesitant to act.

There’s still plenty of pent-up demand waiting for the right moment — and as affordability continues to strengthen, confidence is likely to follow.

Don’t overlook the early signs of change.