In May 2022, it was huge news that NW Portland, SW Portland, and Happy Valley had over one month of Housing Inventory.
And now, in June 2022, North Portland, NE Portland, SE Portland, SW Portland, Hillsboro, Beaverton, Tigard, Lake Oswego, and Gresham have over one month of Housing Inventory. Even more impressive is that NW Portland and Happy Valley have over two months of Housing Inventory.
There's double and triple-digit growth month on month and even more sizable growth year on year.
Click the slideshow below to see Housing Inventory growth by location.
Now, the biggest question is, are we looking at a slower Housing Market driven by higher Interest Rates and a natural slow down after a hyperactive market? Or are we seeing the typical Housing Inventory increase during the summer that hungry buyers will quickly gobble up, sending our current Housing Inventory back to June 2021 levels?
That will be the question as we continue along in 2022. It's definitely exciting real estate activity and will be fun to watch.