A report from Star Metro Vancouver in Canada. "After years of dramatic increases, Vancouver’s most expensive homes are plummeting in value — but experts say affordability is still out of reach. Single-detached family homes will plunge by five to 10 per cent this year in areas such as the North Shore, South Surrey, White Rock, South Delta and Richmond, according to BC Assessment Authority numbers."

"On the west side of Vancouver, areas such as the University Endowment Lands and Point Grey expect to see drops of 12 per cent. For instance, the province’s most expensive home — a mansion in Point Grey owned by Lululemon founder Chip Wilson — has lost more than $5 million in value from last year."

From the Canadian Press. "Home sales in metro Vancouver plummeted to their lowest level in nearly two decades last year and the average home price moved lower in the once red-hot real estate market. 'As the total supply of homes for sale began to accumulate in the spring, we began to see downward pressure on prices across all home types throughout the latter half of the year,' said REBGV president Phil Moore."

From 980 CMJE. "'We just want it to be gone.' That’s how Kaitlin Stocks feels about her condo in Harbour Landing. It’s clean, in listing condition and it’s only a few years old; but she’s finding it incredibly difficult to sell. 'Endlessly' frustrating is how she described the process."

"Stocks bought the condo for herself and lived there a few years, then she moved in with her partner, so she began to rent the condo out. But then the rental market started to relax and she had a bad experience with a tenant. The condo sat empty for a few months, then she decided in November 2017 to put it on the market."

"The ensuing year was a bit of a bust. Stocks said there have been open houses where no one showed up; she’s had to reduce the price four times, now by about $20,000 less than the original price. And she said she’s only had one offer. 'It was a lowball offer. Part of me wishes we would have taken it, but I guess you never know in the real estate world.'"

"Stocks’ story isn’t that unusual in Regina lately. A report out from the Association of Regina Realtors said the total number of residential sales for 2018 in the Regina area was the lowest since 2005. In December in Regina, the MLS Home Price Index listed the benchmark residential price as down 5.2 per cent from the same time in 2017. It was also 11 per cent below the composite price from December of 2013."

"The number of properties on the market is something Stocks has noticed. 'My condo is in Harbour Landing, so every time I drive down there, there seems to be a new development being built, and why would you want to buy used when you can buy new?' Stocks said she’s going to give it another week or two, then she’s going to get more aggressive in trying to sell."

From CBC News. "Calgary's housing market continues to contend with more supply than demand and in 2018 saw the lowest sales numbers in over 20 years, according to a local real estate agent. Figures provided by Jim Sparrow with Royal LePage Solutions show the last time home sales dipped below the 16,144 units sold last year was in 1996 when the population was significantly lower and there were fewer dwellings."

"According to the Calgary Real Estate Board (CREB), December sales in Calgary dropped 21 per cent from the same month in 2017 with only 794 units resold. More than 4,900 units were listed for sale, 30 per cent higher than typical levels for the month, CREB said."

"Realtor Emma May said those holding out for a so-called spring market likely won't see the results they're hoping for. 'I actually foresee that we're going to get a lot more inventory coming onto the market here in the spring. But I'm not sure that we've got the buyers to pick that up. I don't think we're gonna see significant improvement in the long term, I think this is really just the new normal,' she said."

"She said realtors will need to make sure sellers are informed that they need to be aggressive in pricing, and have some difficult conversations with clients who may be losing money to make sure they have realistic expectations for what to expect."

"'It's really an emotional task to walk people through. This is the reality,' she said. 'Nobody's happy. And that takes a toll on people.'"