Suburbs Join the Recovery
The low inventory that has been the most notable change in 2012 is now making its way firmly into the suburbs. Even areas plagued by high inventory and low sales volume during the downturn have become a seller’s market again. Gresham, Beaverton and Vancouver all have inventories below 4 months.
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 property 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.