Here are the charts:
Active listings are increasing at the same pace as 2008.
Sales are still brisk but May could mark a turning point as it did in 2008.
Months of inventory is at the high side of normal and looks to be matching 2008. It will take a drop in sales to get to the extremely elevated levels of market distress we saw in 2008.
Correlation between MOI and price changes is extremely robust and we should be looking for price decreases through the summer if normal seasonal patterns hold up.