Definitely some seasonality that needs to be taken into account with latest set of figures.
Property "Fast Facts" published by REIWA on weekly basis suggest a few things that may be happening here in WA that appear to correlate national figures.
1. Sales still very week 2. Inventory has dropped slightly from highs 3. Rental vacancy has made it's first increase for a while (3.1%-3.2%)
To early to tell but joining the dots you'd have to say listings are starting to get pulled and converted to rentals.
Spring will be the real start of out and out carnage I'd say. If inventory doesn't clear much in winter months the market won't be able to handle the influx of spring listings. Prices will continue to capitulate.
