RMLS Market Action reported the highest level of inventory in recorded history this month. Inventory is calculated by taking the current number of active listings and dividing it by the number of closed sales (14,006 listings/732 closed sales). In January 2006, there were 6.2 months of inventory. Between March and September of 2005 inventory never… Continue reading 19.2 Months of Inventory. What it Means to You as Seller.
All I can do is report the numbers. Inventory numbers are lower but you can’t definitively define why. December’s weather sucked, the holidays, economic uncertainty, what-have-you; all that was all reflected in January.
Each month when RMLS publishes their data in Market Action, it is broken into areas. The areas are numbered using the same system that the Oregonian uses to separate their real estate classified ads. I added the area numbers in the graphic above (click on it to enlarge) for clarification as often Realtor-speak simply refers… Continue reading RMLS Market Areas and Median Prices Mapped
Did Portland real estate hit bottom in January? Are we looking back at the bottom or a bump? Portland housing inventory dropped again in March 2009 to 12 months RMLS Market Action reports. January had the highest ever recorded inventory at 19.2 months, it dropped to 16.6 in February and March levels are close to… Continue reading RMLS Market Action March 2009
The chart above is from the March 2009 Market Action (click to enlarge).
Today’s RMLS Market Action reports the first drop in March to April inventory since 2004. The drop in inventory is attributed to the increase in pending sales as the actual number of active listings increased to . Inventory calculated as the number of active listings divided by their rate of sale. The market still lags… Continue reading RMLS Market Action April 2009
The image below is a snapshot of the just published RMLS Market Action for May 2009. The decrease in inventory (a ratio of the active number of listing (14,493) and rate of sales) can be attributed to an increase sales activity as the number of listings has increased. Between January 2007 and May 2007, inventory… Continue reading RMLS Market Action May 2009
The Federal Reserve meeting ended its two day meeting today without changing interest rates. CNN reports, “Central bank says the long decline for U.S. economy appears to have ended, although it’s likely to remain week for awhile.” RMLS just released its latest Market Action report with some strong numbers for July: Closed sales in the… Continue reading RMLS Market Action July 2009
RMLS Market Action for August 2009 was just released. Inventory rose for the first time this year but is 21% lower than it was this time last year. At the current rate of sales, it would take 7.8 months to sell all the existing properties on the market. Prior to July, the last time inventory… Continue reading RMLS Market Action August 2009: Mixed Results
RMLS of Portland just released their Portland real estate market data for November 2009. Inventory ticked up a little from October’s 6.5 months. The 9% increase is less than the month on month increase in 2008 but in 2007 the inventory level remained almost static for the same period.