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follow Patrick 2018 May 15, 6:38pm
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High-profile real estate developers, marketing executives and real estate agents are bracing for a sustained downturn in the housing market after sales in April – usually one of the most active months of the year – plunged by double-digits across Metro Vancouver. ...In the resale sector, April sales of detached houses plunged 34% through the Real Estate Board of Greater Vancouver, compared with a year earlier, while townhouse and condo sales were down 25% and 24% in the same period.“I have been seeing more and more price reductions in the detached housing market,” said Tina Mak, a top-producing Vancouver agent with Coldwell Banker Wesburn Realty. Mak, known for her eight-figure land assemblies, said investors should not expect a quick return on investment if they had bought recently.