RMLS released the latest edition of Market Action yesterday.  The Portland Metro market report shows that inventory bumped up from a month ago.  Closed sales are up but the number of new listings is down.  The 8514 active listings are the fewest in three years.  With more buyers competing for fewer listings we’ve heard some… Continue reading RMLS Market Action January 2012

RMLS’s Market Action confirms what we already know. The market is tight. Inventory is down to 1.8 months. The report continues: Appreciation To calculate sale price appreciation, prices for the twelve months that ended with March 2005 are compared to prices for the twelve months ending in March 2004. Using those time periods, the average… Continue reading Portland Real Estate Market Action

RMLS’s May 2005 Market Action report is out and it confirms that available listings continue to drop. This month’s magic number is 1.6. That translates to if we stopped taking listings today, there would be nothing to sell 1.6 months from today. This time last year it was 2.8 months, 2003: 3.8 months!

Quoting RMLS Market Action for February, published March 15th: February Residential Highlights The number of homes changing hands in the greater Portland Metro area is up again. When comparing February 2006 to the same month of the previous year, the number of closed sales increased 2.2%. Alternatively, the number of new listings dropped 6.9% and… Continue reading RMLS Market Action- February

The August Market Action report is out. While the appreciation numbers still continue to look great at 16.4% over the last 12 months, the numbers may be misleading. Appreciation over the previous 12 months as reported by RMLS: August: 16.4% July: 17.4% June: 17.4% May: 17.4% April: 17.9% March: 16.4% February: 16.0% January: Not reported… Continue reading August RMLS Market Action

Let’s talk inventory here. RMLS calculates inventory by talking the number of available listings at a fixed point and dividing by the current rate of closed sales: if there were 100 homes on the market and they are selling at a rate of ten a month, there is ten months of inventory. Inventory for March… Continue reading RMLS Market Action March

The print version of November’s Smart Money has a story on 25 real estate markets ready to rebound. Portland isn’t one of them. Seattle is #25. The story claims that the complete list of 100 markets can be found online at smartmoney.com/mag but I can only find October articles.

As mentioned on our Facebook page, I held off on posting the latest RMLS Market Action report yesterday so that I could get some clarification on the numbers being reported.   Inventory is down to 10.2 months.  It’s worth noting that in both 2008 and 2009 inventory climbed between October and November.

January 2011 RMLS Market Action for Portland real estate came out today.  There was a sharp spike in inventory to 11.3 months which makes December’s 7.9 months an anomaly in light of the previous month’s inventory levels. Most of the increase can be attributed to a large increase in new listings.  I’ll post the City… Continue reading RMLS Market Action January 2011

RMLS Metro Portland home inventory climbed to 7.0 months from June’s 6.0 months but City of Portland housing inventory only climbed .3 months to 5.5.  This is the third consecutive month that Portland inventory has remained below six months, the inventory level that has traditionally been considered the point between buyer and seller markets.  Anything… Continue reading Portland Home Inventory Low in North and NE Portland