New listings rose 12.3 percent over the same period last year, which is the detail that tells you whether the climb has legs: more sellers are coming to market, easing some of the pressure that pushed prices up earlier in the cycle.
A market can keep rising and loosen at the same time, and that appears to be what is happening here. 1.63 months of supply is still tight by historical standards, but it is moving in a direction that should slow, not reverse, the pace of increases into next year.
Whether that trend continues depends on interest rates and how many of those new listings actually sell, both worth watching rather than assuming. Get your hand-reviewed valuation from Joel Dyck.