The current Housing Inventory in North Portland is 2.38 months, and North Portland has been experiencing a buyer's market since April 2023. The current Housing Inventory of 2.38 months is 111% more than the January 2023 Housing Inventory of 1.13 months and 303% more than the January 2022 Housing Inventory of .59 months.
The ideal real estate market would have 1.00 month of Housing Inventory, meaning Housing Supply perfectly satisfies Housing Demand. For this graph, that would be the orange and purple lines right on top of each other. However, we know that not all inventory is the same, so a location can be experiencing a seller's market even when Housing Supply exceeds Housing Demand. A huge separation between Housing Supply and Housing Demand means an unbalanced real estate market, creating either a buyer's market or a seller's market.
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