The same real estate board in Vancouver said the same thing for many years  and had the exact same 4.9 % number (coincidence?)and even up to the introduction of the 15% foreign tax which, when introduced, stopped sales in their tracks and started us on the slow road of making housing affordable again.

If I were you I would be very skeptical of the self interest of the real estate board as I think you will find they are only supporting whatever position is in their interest.  Remember nobody, including CMHC, tracks this data and the number are whatever they want them to be