News came out that the April inventory of homes in Portland actually went back up to February levels at 10.3 months. I had predicted, based on the activity levels in my office and among my clients that the inventory would continue to trend down. I will be taking a look at how detached homes close-in are faring because my experience in this arena feels more balanced than the metro inventory would suggest.
For example: I have a client looking in the $300k range. We identified 15 possible properties on Wednesday to look at that weekend and by Friday 5 of them were pending. Well priced homes that are staged or show very well are still going fast, many of them with multiple offers.
Look for another detached home update by zipcode this next week.