HOUSING INVENTORY CONFUSION in Portland, OR & surrounding cities! 📈🤔📉
The Housing Inventory in Portland, Oregon, and the surrounding cities had its first significant decrease last month, and now eight of the 12 locations have an increase month on month.
The Housing Inventory is seemingly bouncing all over the place. 11 out of the 12 locations still have over one month of Housing Inventory, with Milwaukie being the only member of the less-than-one-month club. It will be interesting to see what happens over the next few months.
I am a broken record, but I will continue to issue the same call to home buyers. These higher Housing Inventory levels will not last long.
Mortgage rates will decrease, and the demand for housing will always be strong because we don't have enough housing to meet the population's needs. The small window for buyers to purchase a home at the list price or lower without the stress and competition of a more aggressive market may be closing. Unfortunately, most buyers will wait until they see a large herd of buyers head back into the market before they start their home-buying process, and by then, it's too late. The aggressive market will be back in play. Trust me, as a home buyer, you want to be ahead of the herd, not following.
See Homes for Sale by Location - No need to search. Results ready-to-go! 🏡🙋♀️
See Homes for Sale by Price - No need to search. Results ready-to-go! 🏡🙋♀️
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