The market has found a floor. Propalt's own transaction data shows the average time to go under offer falling from 71 days in January to around 56 by spring, now settled near 59. That isn't a recovery. It's the market stopping getting worse, and then holding.
The trouble is how easily people are moved by a single data point. One better number and everyone wants to call the turn. One worse one and the same people call the crash. The signal is almost never in one month. It's in the direction across several.
Running anything needs the same discipline. A good month doesn't mean you've cracked it and a bad week doesn't mean it's broken. What you're after is the trend underneath the noise, and you usually can't see it without a few readings in a row.
The data isn't saying the market's back. It's saying it has steadied for a few months now. Worth noting, not worth celebrating.
When you look at your own numbers, are you reacting to the latest one, or reading the shape of the last six?
Source: Propalt national data, January to June 2026.
Co-founder of Propalt and a property investor and developer for 20 years
