OTTAWA -- Home ownership has become less affordable for the average Canadian, but that hasn't stopped many from jumping into what may already be an overpriced market, suggests a new report from the Royal Bank.

Royal Bank says its housing affordability index reversed course in the second quarter of this year in two of the three categories it measures -- bungalows and two-storey homes -- after generally improving over the past year.

That means that on average, Canadians were paying more of the pre-tax income to service their homes compared to the first quarter of the year, although the index is still down from a year ago