Royal LePage says early evidence suggests that the recent correction in Vancouver’s housing market may be short-lived. The realtor released a report Tuesday saying Canada’s two largest real estate markets continued their divergence in the first quarter of the year. In the Greater Vancouver area, the price of a home rose 12.3 per cent year-over-year to $1,179,482. Royal LePage CEO Phil Soper says the housing correction in Vancouver began seven months ago, around the time that the B.C. government introduced a 15 per cent tax on foreign nationals buying real estate in the city.

Source: thestar April 18, 2017 16:30 UTC