Although it's difficult to forecast the housing market all the main indicators suggest that the seller's market that traditionally ends late summer is likely to continue a little longer into the fall.  There continues to be more than three times as many buyers than there was at this time last years and half the inventory.  The looming proposed HST (harmonized sales tax) coming into effect in July 2010 and Olympics and Paralympics happening February and March Respectively, are most likely motivating buyers.  October should see the seller's market continue with strong sales but as we approach December it's likely for the market to finally cool off.
Buyer's who have been diligently trying to enter the market have no doubt been somewhat discouraged, however they will be the first to capitalize on better value as inventory levels begin to equalize.