479 homes were sold in Portland in November, up from 408 in October. I had predicted 475 sales and that matched up almost perfectly with the actual numbers.
Wild cards: Mortgage interest rates look like they’re finally starting to rise after being in the low 4% range for the last few months. The rental market remains robust so expect investors to start buying up distressed properties in much greater numbers.
I’m predicting around 500 closed sales in Portland (RMLS areas 141, 142, 143 & 148) in December. Seasonally speaking, average prices generally start to drop after the summer peak, bottoming out in winter; I expect investors to bolster the market through the winter. PORTLAND sales volume 120110