The pace of sales has slowed, but there is still record activity. Inventory is slowly increasing, which is bringing more balance to the market, but varies greatly between product types. There is currently around 2 months supply for detached homes, but around 6 months for condominiums.
Prices have rebounded as well. After 14 years of mostly down markets, with the exception of 2014, prices for the most part have risen to 2006 - 2007 levels again. This is welcome news to many that may have purchased in up markets and steadily lost equity. That equity has now been restored.
Hope you enjoy the rest of your summer!
Hope you enjoy the rest of your summer!
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