Huge Jump in Sales
866 homes sold in Portland this March, which is 300 more than February. Home sales are on track to match or exceed the all-time highs set in Summer of 2005. The market is still favoring sellers and promises to keep inventory low even before the Summer rush.
Wild cards: As prices rise, more buyers are priced out of the market which could slow the pace of sales. Interest rates have dropped close to all time lows. Out of state investment continues to push prices and rents higher and keep inventory low.
I’m predicting around 900 closed sales in Portland (RMLS areas 141, 142, 143 & 148) in April.