Last week the monthly Market report was released by the RMLS and the news is good. Portland continues to have a solid market and inventory is actually going down again for the second month in a row. Based on the huge increase in pending sales last month I’m betting that this trend will continue into April. Another factor affecting the market is the long winter we’re having, once the weather finally breaks watch for another run up in pending sales. Appreciation is still a solid 5% and with many multiple offer situations this trend will hopefully continue as well.
The Inventory numbers:
January – 12.8 months
February – 10.4 months
March – 9.1 months
My prediction for April – 7.5 months
Once we hit 6 months of inventory we’re headed back into a Seller’s market so if you’ve been waiting for the right time to buy I’d say that time is Now!