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Vancouver Real Estate Market Bounces Back

To the surprise of many, the Vancouver Real Estate market has rebounded and continues to remain strong. After a busy summer, many expected a decrease in activity into the Fall months. However, the market has done just the opposite. Sales in September surpassed those made in August and marked the point where pricing had made a full recovery from the beginning of the economic downturn last year. This trend in Vancouver Real Estate repeated itself once again for the month of October with the number of sales recorded in October 2009 has again increased 4.1% of those recorded in September, 2009.

Rises in consumer confidence paired with the low cost of borrowing have been the two key components that continue to drive the Vancouver Real Estate market. Unfortunately, with the low interest rates, buyer demand has increased which will have an opposite effect on affordability. Many experts have debated whether there will be enough momentum for this to continue through to the end of the year and had predicted a slow down. September and October have so far proven these predictions to be incorrect with record breaking months. It seems as though the experts are finding themselves surprised each month with the Vancouver Real Estate market continuing an upward trend as we near the end of 2009.