Vancouver Housing Market Still Strong

I got a mail-out from our Marty our realtor. He says:

"The market has continued to heat up over the last two months. There were 30% fewer listings in September 2005 than September 2004 but far more buyers. Accordingly, prices continued on the upward trend rising across the board by 1% in one month (as has been the case for most of the year). The Real Estate Board of Greater Vancouver shows volume sales activity up by 13% compared to this time last year. In summary, the market is still hot, prices are continuing to rise, and inventory is still low. Mortgage rates, one of the main drivers of this market, are expected to creep upwards putting additional pressure of pre-approved buyers to buy within the next 60-90 days but will have a potential cooling effect in the long term. If the economy stays active we will continue to see a rise in the fixed rates. Many investors and upgrade home owners are taking advantage of the optimistic forecast. It continues to be a great time to get a better foot-hold in Vancouver's premium real estate market."