As is every month, June was a balanced market in their eyes. Despite their convoluted active-listings-to-sales-ratio, this time they may have a point, since the residential MOI at 6 is on the tall side of balanced, and 14% lower than last year.
Here's a tower of graphs for you.
How's the decline from peak looking? Little rebound this spring, but expect it to keep dropping in the following months.
Despite the VREB's hyperventilating (it is hot out there), 2013 is still the slowest year for sales in almost 15 years.
MOI seems to have peaked, at least for the time being. Before anyone gets too excited though, the MOI in Seattle peaked as well, and the market kept declining for 3 years. What do you think, are we past peak inventory?