Sales Slowdown Leads to Increased Inventory
Rapid increases in home prices in Portland within the last year has led to a slowdown in sales as we enter the Fall season, which means more choices for Buyers and extended times on the market for Sellers. Interest rates remain low, which should keep the market busy, ultimately favoring Sellers.
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 properties 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 active listings and 6 months of sold data from the RMLS to create this report.