Still waiting for the June numbers from REBGV to show up in the usual places. In the meantime,
Agent Will's Weekly Stats shows a similar shift to the average numbers.
Why is inventory falling at the same time? (One might ask if this is not just a blip but a trend.) Remember, real estate is unlike most markets. Sellers are also buyers and buyers are also sellers. If a potential seller finds themselves priced out of buying a move-up property, they also cease to be a seller. They will only return to the market as a cash-out seller, with no buying contingency, if and when the market makes a definitive turn downward, at which time inventory will rise as prices fall.