Mar 2022 - Housing Supply has a strong month! 🤩🏡
Only NW Portland had over one month of housing inventory in February, and it's the same in March. And the month-on-month percentage change shows that six locations have an increase, with Lake Oswego having the highest at 56%. The remaining six locations decrease or stay flat, with Happy Valley having the highest at (28%). So is Housing Supply beginning to have some impact on Housing Inventory?
When we look at the month-on-month Housing Supply percentage change, all 12 locations have increased, with Happy Valley having the smallest at 2% and Hillsboro the largest at 65%.
When we look at the month-on-month Housing Demand percentage change, 11 of the 12 locations have increased, with Gresham having the smallest at 2% and Tigard the largest at 43%.
So we can see that Housing Supply had a good month, but so did Housing Demand. We desperately need to see consistent growth in the Housing Supply if we want the aggression and bidding wars to calm down because this intense Housing Demand isn't going away any time soon.
Below is a slideshow with all graphs from the video:
Feel free to contact me with any questions.🙋♀️ Have a great day!