Portland real estate inventory dropped to 8.2 months, the lowest level since August 2007 according to the RMLS Market Action report released today. Many say six months of inventory is market equilibrium. Anything higher indicates a buyer’s market and anything less is a seller’s market. Is that an outdated model in a new economy? Monthly… Continue reading RMLS Market Action June 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.
Portland real estate inventory dropped 40% between February and March! After a two month spike with over 12 months, inventory levels have returned, at least for now, to the levels that we saw during the last half of 2009. There were positive changes in all of the market metrics: average sales price, median sales price,… Continue reading RMLS Market Action March 2010
April 2010’s RMLS Market Action reports that inventory is down to 7.3 months. All look back at over a decade of Aprils in Portland real estate inventory:
You’ll have to look pretty hard for good news in the October 2010 RMLS Market Action. One bright spot is that there is an increase in the number of closed transaction through October 2010 compared to 2009. This is coupled with a decrease in the number of pending transactions. It means that fewer transactions are… Continue reading October 2010 RMLS Market Action
RMLS Market Action for March 2011 in the Portland Metro area shows some strong gains from February. Inventory dropped 35% from February to 7.1 months. I’ve updated the tracking of the local Portland RMLS areas and what is most striking is that North, Northeast and Northwest (Washington County) Portland have inventory levels below six months… Continue reading RMLS Market Action: March 2011
RMLS Market Action for May 2011 is out with mixed news. The average sales price in Portland is down from April 1.8% to $262,400. During the same period the median price increased .1% to $220,000. The average sales price has dropped 7.3% over the last year. Inventory levels continue to decline. New listings have dropped… Continue reading RMLS Market Action May 2011
Writing for me is like going to the gym. Love doing it but get out of the habit and it’s hard to get back to. Today’s release of RMLS Market Action should get me back in the groove. Inventory is four months lower than it was this time last year. That partially because there are… Continue reading Portland housing market resolving for better 2012?