Home sales in Canada's Vancouver of tumbled to a 33-year low in March and prices have also fallen for 10 consecutive months, according to the Real Estate Board of Greater Vancouver on Tuesday.

Last month, a total 1,727 homes were sold in the region, the lowest for the month since 1986.

The total residential sales last month slumped over 31 percent compared with a year earlier, and more than 46 percent below the 10-year average for March.

The benchmark price for all residential types in Vancouver declined 7.7 percent in March compared with a year earlier, said the Real Estate Board of Greater Vancouver.

Over the past few years, governments at all levels have imposed new taxes and borrowing requirements onto the housing market to cool off what was believed to be a runaway market, in which prices skyrocketed from 2013 to 2016.