Sales Hold Steady Before Summer
847 homes sold in Portland this April, which is 19 less than March. Think of this as the calm before the storm. Pending sales are pointing to a strong market this Summer. The market is still favoring sellers and promises to keep inventory low even before the Summer rush.
Wild cards: As prices rise, more buyers are priced out of the market which could slow the pace of sales. Interest rates have dropped close to all time lows. Out of state investment continues to push prices and rents higher and keep inventory low.
I’m predicting around 1000 closed sales in Portland (RMLS areas 141, 142, 143 & 148) in May.