Inventory has jumped quite a bit as we head into spring. With talk of a US/global recession still floating around and a Canadian interest rate announcement coming this week, I’ve got a feeling we might see things slow down a bit in the coming weeks - how long? unsure
...That said, homes that are priced right—across all types—have still been selling in multiple-offer situations over the past month (even though that part isn’t shown in the graph above).We’ll keep an eye on how inventory shapes up heading into summer, and see how buyer confidence holds up as we move through this short-term uncertainty.
[UPDATE] Interest Rate Announcement as of Wednesday just came in, bank holding rate. Suggesting a balance between recessionary outlook and stability.