Portland Home Sales Hit New High
1056 homes were sold in Portland in June, which is 43 more than May. 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 July 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 is still very low.
I’m predicting around 1,100 closed sales in Portland (RMLS areas 141, 142, 143 & 148) in July.