May's Housing Rebound Is Real—But the Floor Was Lower Than You Think

Daniel Foch's June 16 analysis in Real Estate Magazine identifies tangible behavioral shifts signaling a potential market turn. The quiet buyer is requesting second showings rather than ghosting after the first visit. Listing agents report fewer silent phone lines following open houses, indicating renewed inquiry volume. Most notably, sellers who previously anchored expectations to 2022 peak pricing are now asking where legitimate offers might actually land, suggesting a capitulation on unrealistic expectations.

This behavioral texture arrives during May's traditional seasonal uptick. Thirty years of Canadian housing data demonstrates that sales volumes almost invariably rise from April to May, making the monthly gain statistically expected rather than extraordinary. However, Foch argues that the current rebound feels distinct because it emerges from an exceptionally weak foundation. The starting point was not merely soft—it was historically depressed—meaning the percentage gains look dramatic while absolute activity remains constrained.