So, you're cruising along on Interstate 81 (somehow not stuck in traffic) in a 70 MPH speed zone....

...but, you're going 115 MPH.  Wow! 

But then, you slow down a bit, to 95 MPH. 

When your friendly, neighborhood police officer pulls you over and asks you why you were going so fast... 95 MPH... you tell the officer you just slowed down.

"Sure, pal, you may have slowed down... but you were still driving very fast!"

Maybe you see where I'm going with this...

The local housing market has been moving very quickly over the past two-ish years, perhaps it's been going 115 MPH... well beyond the speed limit, and definitely a seller's market, often with 5+ or 10+ offers on new listings within days if not hours.

The local housing market has now slowed down a bit, perhaps to 95 MPH... still well faster than normal, still definitely a seller's market, often with 1 to 3 offers on new listings within days, but likely not within hours.

So, yes, the local real estate market seems to have slowed down a bit over the past few months -- but it is still moving very, very quickly!