Portland Home Sales Hit New High (Again)
1162 homes were sold in Portland in July, which is 106 more than June. The number of home sales hit a new high this month as the average and median prices also hit all-time highs. Pending activity is picking up so expect the number of sales to be higher for August 2015.
Wild cards: As prices go up more buyers are priced out of the market which could slow the pace of sales. Interest rates remain low. Inventory continues to drop due to strong buyer activity.
I’m predicting around 1,200 closed sales in Portland (RMLS areas 141, 142, 143 & 148) in August.