While these numbers for February indicate prices are still trending up, statistics from the past two weeks indicate showings are down and offers are down. What does it mean that offers are down? Is it more significant than a property which in the past year would have had 10 offers is now down to 3 offers? It is not clear. It could be more significant than this.
This is a two week phenomenon. The move in interest rates, but more profoundly the war in Ukraine are the likely reasons. Time will be our guide.