(Source: Vancouver Sun)

Low mortgage rates continue to entice first-time buyers into the real estate market, pushing up prices in the Lower Mainland and keeping sales hot.

Home sales in the Vancouver area continued upward in September, with 3,559 sales through the Multiple Listing Service, up 3.4 per cent from the 3,441 sales in August, according to numbers released Friday by the Real Estate Board of Greater Vancouver (REBGV).

Prices have followed suit, and benchmark prices — the average price of a typical home in a particular market, such as detached or condominium — were 1.6 per cent higher in September than they were a year earlier, regaining much, but not all of the losses suffered since the peaks reached in the summer of 2008.

Read Fiona Anderson’s full article “Low mortgage rates lure first-time buyers into housing market” in the Vancouver Sun (October 3, 2009).

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