466 homes were sold in Portland in July, down from 776 in June. I had predicted 650 sales and was shocked by the sharp drop in sales.

Wild cards: The nation experienced the same drop in sales as Portland and looking into August the numbers aren’t getting better. On the bright side August activity should help September numbers.

I’m predicting around 400 closed sales in Portland (RMLS areas 141, 142, 143 & 148) in August. Seasonally speaking, average prices generally start to drop after the summer peak, bottoming out in winter, with sales slowing I expect this trend to begin. PORTLAND sales volume 090110