Is this the washout in Canadian housing? Toronto listings jump 47%, sales fall

Toronto Real Estate Board data
Sales drop, listings surge. Prices to fall?
– Listings rise 47% in the first half of May compared to year earlier
– Sales 16% lower than first two weeks of May last year
Prices were still up 17% year-over-year but that’s far from the 25% y/y rise in April and 33% y/y rise in March. The data showed prices down 3.3% compared to April.