Jan 2015 RMLS Portland Market Action Shows Increased Inventory, Decreased Average Price
The latest RMLS Portland Market Action data was released last week, and our latest infographic is below. Two notable points in this data are the inventory level and the average sales price change.
As the infographic notes, there was an increase in new listings and a decrease of closed sales compared to December 2014, which pushed inventory up to a recent high. Looking back at the RMLS Portland Market Action data covering 2012, 2013, and 2014, there has been a trend of increased inventory early in the year. This has been followed by a decline as home sales increase in the spring, With an inventory higher than recent months, but lower than previous years’ January data, it will be interesting to see what inventory does in the coming year.
The second notable feature of the RMLS Portland Market Action data is the shift in average sales price. Although January 2015 shows an increase from January 2014 and the 12 month rolling average sales price also shows an increase, there is a decrease from last month. Home value projections shown an expected increase of about 4% nationwide for 2015. So, it will be interesting to see what happens in the local market in the coming months.
Our Latest RMLS Portland Market Action Infographic:
Based on the data you’ve seen, what expectations do you have for the 2015 housing market in the Portland metro area? Do you think we will see a boom in early spring inventory? Or an unprecedented low followed by a huge summer?
