Inventory Shows Small Increase
Inventory rose slightly from last months low in Portland. This move signals continued appreciation and more robust activity than usual in the start of the year. When inventory is this low it is a sign that prices will rise. Also loan interest rates have dropped to new lows which should push pricing up.
This localized home inventory report helps give context to the metro statistics that often make headlines. Real estate is a local affair and this report shows which parts of town and which types of properties are selling and which ones are sitting. Inventory is figured in months with 6 months being balanced, less than 6 months favoring sellers and more than 6 months favoring buyers. I use current active listings and 6 months of sold data from the RMLS to create this report.