The Portland Metro residential real estate market improved slightly in July. All measures are better than last July but down slightly from last month. There were 2,372 accepted offers and 1,973 closed sales. This was the highest number of closed sales in July since 2009. The unsold inventory in months ticked up slightly from 3.9 in June to 4.6 in July and is lower than any July since 2006; it would take only 4.6 months to sell the 9,041 active listings at the July rate of sales. Sale prices were up 7.8% from last July and up 1.2% from June.
Mortgage rates rose slightly but still remain near record lows.
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