So… the May numbers are in. But before we get into the stats, let’s just take a moment to acknowledge the elephant in the room: there are now over 31,000 active listings on the market (and counting). That’s a level we haven’t seen in 25 years. Naturally, the absorption rate - or sales-to-listings ratio if you prefer the technical term - is starting to show the pressure. You’d think this kind of inventory surge would trigger a buyer frenzy, right? Not quite.... [read more]