The typical Vancouver detached home lost $150,000 in value over the past year.
Years of rock-bottom interest rates and rising prices have created some problematic conditions.
And now the market is headed for an oversupply of new homes.
A majority of notaries say they are seeing a decline in the number of first-time buyers.
Canada's housing markets are "in neutral" after years of rapid price growth.
Canadian housing markets show "neither strength nor deep weakness" as price growth drops to slowest in five years.
B.C.'s Fraser Valley is seeing condo prices rising at an annual rate of 60 per cent. That's not supply and demand talking.
But this could just be the tip of the iceberg.
The country faces at least two years of sluggish markets.
National Bank forecasts falling house prices in Toronto, Vancouver this year.