Report shows homes in Vancouver, Calgary and Edmonton lost value over the past year
Sales up 12.6% year-over-year
Calgary is at its most affordable level on record
But starts still beat economists' expectations
Overall average selling price in the GTA was up 3.2% year-over-year
Portfolio manager at Richardson GMP advises prospective buyers to wait
But home prices rose at a slower pace in May
Home prices have increased faster than income for 7 years
National house price index increased just 0.5% over the last year
Dip in apartment constructions offsets gains in single-family homes