Depending on which stats you read, you could think the market is quite healthy or in a not-so-good place.

On one hand, if you look at the average sales price and number of sales, you’d believe the market is doing just fine. But, on the other hand, if you look at stats like active listings and average days on the market, you’d conclude the market is still getting worse! 

As the cost of borrowing is anticipated to decline further in the coming months expect sales to accelerate as buyers benefit from lower monthly mortgage payments and a substantial build-up in inventory. As inventory is absorbed, market conditions will tighten in the absence of a large-scale increase in home completions, ultimately leading to a resumption of price growth.