It is a known fact that a high percentage of Canadians do whatever they perceive or read that most other people are doing instead of doing something different. A lot of us buy mutual funds when they are up and sell when they go down. I wonder how many renters are right now waiting to buy a house because they are not sure what to do, and probably won't make a decision to buy until they hear that everyone else is? Soon they will hear that sales are up and prices are rising, and off they will go to BUY! My recommendation would be to buy before you have to pay more for your home! If you want a second opinion; ask your banker, accountant, boss and any other financial savvy person you know.