New housing inventory figures just arrived for the Portland metro area and they’re not just low. They’re way low. In fact, if our latest home supply figures were put to music, you might say ‘Sing It Way Down Low.’
Perhaps even more surprising than a meager 1.6 months of housing backlog is our region’s five straight month trend of lowering home supply.
This persistent decline in available homes for purchase has resulted in serious scarcity.
As with most commodities, a reduced home supply typically increases demand. The result? Rising home prices:
To view the entire recent report on Portland metro real estate, click here or on the Market Action image below. Make sure to check out page two for specifics on home prices and market times for your town or neighborhood.
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