Vancouver real estate market to stay busy until late 2010

Even with an interest rate increase Vancouver's real estate market is expected to remain "heated" through the rest of spring before becoming more "subdued" later in the year. This latest forecast comes courtesy of Scotia Economics.

Scotia Economics senior economist Adrienne Warren expects mortgage rates to remain relatively low and that as long as the economic recovery continues; Canada will not experience the conditions that would spark a correction of real estate prices.

A "normal adjustment period" in which prices in prices remain relatively flat for a significant period while other aspects of the economy improve is most probable.