It's a strong buyer's market because inventory of homes (supply) has increased for the last 4 months. In addition it would take 12.6 months to clear out the current inventory at the current rate of sale. Statically a neutral market is at about 6 months of inventory. This does not even account for the economic information of unemployment figures as well as the short sale and bank repo percentage. In regards to the recent price trend being down the Portland market over the last 12 months shows a decline in average sales price of 11.7% compared to last year at this time. The reason I chose down significantly is because it was about the same over the last 24 months as well.
Company: Pohl Real Estate
Phone: 503-888-1897
Email: gp at pohlrealestate dot com
