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Well, when I look at these numbers I would like to see inventory increasing, but it appears to be holding steady these days. A search of the MLS turned up 2155 total listings today.

It seems sales must be moving along at a brisk clip to hold the inventory numbers stable at a time of year when they usually begin climbing.

I do have some suspicions that these numbers are incomplete, just based on my own anecdotal obvservation of what appear to be multiple signs on many corners this summer, but those anecdotal observations are not translating into significant downward pressure on sales or housing prices, at least not so far.

VREB should be releasing their version of the August sales numbers tomorrow. What do I expect? Well, another 800-900 in sales, much higher numbers than for the same period last year, lower inventory than last year, and continued strength in the market.

What is doing this as rates go up and the market is imploding south of the border? Smoke? Mirrors? Oil money? Grecian formula, keeping an aging market "looking good"? Aging hockey players buying third home condos and golf course pleasure palaces? Your guess is as good as mine.

Anyway, here is a graph of the breakdown of the local market, not by property type, but by price range. If you take a look at the charts attached to some earlier stories on this topic, you will note there has not been a lot of change in the amount of inventory in the various price ranges in the last few months. In fact, inventory appears to have declined a bit - a sign of a move towards a sellers market, if even more of a sellers market is possible, at this point.

Well, I will be glad to see this situation change some day - will the other shoe drop in the fall, or will the crazed buying continue unabated? Only time, and a crystal ball, will tell.