Metro Inventory holds ground
Inventory held much of March’s positive movement with many people feeling that we are near the bottom of the market. We are now very close to a balanced market. Move in ready homes in the core of the city are selling very rapidly across multiple price points. The expiration of the tax credit caused an increase in sales in April and in the last two weeks we have seen what I believe will be a temporary slow down until June.
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. PORTLAND INVENTORY REPORT 051510