We've been watching the Housing Supply decreasing since September 2022, but now Housing Supply is plateauing, even increasing.
Housing Demand has also been decreasing, but not at the same sharp decline as Housing Supply. Housing Demand has declined since May 2022, grew last month, and now fell again.
What's happening with Housing Supply and Housing Demand in Portland, OR, and the surrounding cities? It's either a lot of confusion or signaling a directional shift.
To stay on top of the activity, we want to note how the month-on-month activity varies from the year-on-year. For Housing Supply, it would be decreases in North Portland, SE Portland, SW Portland, Hillsboro, Beaverton, Milwaukie, and Gresham.
And for Housing Demand, it would be increases in Milwaukie and Happy Valley.
And while we want to avoid getting too excited by the month-to-month activity, it's surprising how much of an impact it has on the Housing Inventory. Watching the Housing Supply vs. Housing Demand trend for the next few months will be exciting.
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This video is part of a new series called Trend Watch, where I create a set of videos featuring the most critical Housing Market trends and run them every month so that you can understand how trends work and watch the changes month by month.
I hope you find this information helpful.
Please remember I'm always here for any questions. 😃
Take care, Sheryl