A report from Global News in Canada. "A local realtor and real estate blogger has crunched the numbers and he says Greater Vancouver home sales just had their worst month of March since 1986. According to Steve Saretsky, unreleased numbers from the Canadian Real Estate Association show just a little over 1,700 transactions last month. Saretsky said the slowdown is a result of a gap between what sellers and buyers are expecting from the market."

"'Primarily because buyers have a certain price they want to pay, particularly given the outlook of housing market, and sellers are still trying to adjust to reality, which ultimately the market isn’t willing to pay for what they are asking,' Saretsky said."

"Saretsky said prices are in fact taking a dip, however the slide isn’t evenly distributed. 'You know you can probably get a 40 per cent discount at a house in West Vancouver, but you might only get a 15 per cent discount on a house in East Vancouver.' He added that condo sales also saw an 18-year low last month."

The Globe and Mail. "Housing sales in the Vancouver region tumbled to a 33-year low in March while prices have dropped for 10 consecutive months, after a series of government measures aimed at cooling off what had been a red-hot market."

"'The fact that we have very slow sales volume suggests that we will likely see continuing price declines,' real-estate economist Tom Davidoff of the University of British Columbia’s Sauder School of Business said. 'Typically, sellers will to have adjust prices down to match what they can get.'"

"Total residential sales last month decreased 31.4 per cent compared with a year earlier, and were 46.3 per cent below the 10-year regional average for March. Total listings have swelled for detached homes, condos and townhouses, with the number of properties for sale jumping 52.4 per cent over the past year to 12,774."

"The region’s average price for condos sold dropped 9.7 per cent over the past year to $653,705. In the district municipality of West Vancouver, the benchmark price of detached properties fell to $2,583,600 last month, down 17.1 per cent since March, 2018."

"The benchmark price for detached houses sold in Greater Vancouver last month slid to $1,447,100, down 10.5 per cent compared with a year earlier. Over the past year, sales volume in the detached category dropped 26.7 per cent, while condo sales decreased 35.3 per cent."

"'The momentum is definitely downward,' said Peter Norman, chief economist at Altus Group, a real estate data and advisory firm."

The Wall Street Journal. "A few years ago, prices in Vancouver and Toronto were growing by up to 30% annually. But today they’re virtually flat, thanks in part to a steep sales tax aimed at foreign buyers and tightened rules to make it more difficult for families to qualify for mortgages."

"'Basically what we are doing now is we are undoing crazy years,' said Benjamin Tal, deputy chief economist at CIBC World Markets Inc."