OTTAWA Oct 6 Vancouver's housing market was
already slowing prior to Canada's August introduction of a
foreign buyers tax, the federal housing agency said on Thursday,
noting that home sales declined further after the tax hit,
particularly for higher-priced homes.
The city was already seeing a slowing pace of sales, a shift
towards more condominium sales, and a downward trend in average
prices before the 15 percent tax was imposed, the Canada
Mortgage and Housing Corp said in a report on the role of
foreign buyers and foreign capital in Vancouver's market.
(Reporting by Andrea Hopkins)