Housing Supply and Demand are still moving in tandem directionally and at pace in Portland, OR & the surrounding cities.
This is good news for our local Housing Market. The problem is that our current Housing Market is also speeding up, showing buyer bidding wars. So even though 10 out of 12 locations have over one month of Housing Inventory, meaning Housing Supply should be more than adequate to meet the Housing Demand, we're still seeing bidding wars in all locations. Why? Because well-priced, well-appointed properties always receive outsized attention, and those homes make up a higher percentage of the Housing Inventory beginning in March when the Housing Market starts to frenzy each year.
Watching the Housing Supply vs. Housing Demand trend for the next few months will be exciting.
This video is part of a series called Trend Watch, where I create 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.