The Portland Area is in a Seller's Market!Posted by on Tuesday, May 15th, 2012 at 6:34pm.
The latest Market Action Report released by the local RMLS today shows for sale housing inventory in the Portland Metro area has an inventory of only 4.7 months. This is truly amazing considering that the inventory has not been this low since the peak of the market in May of 2007 when there was a 4.5 month supply. Also, there is no $8,000 tax credit which is pushing buyers to purchase homes when they otherwise would wait, which pushed buyers to act in 2010 and artificially reduced the inventory from 12.9 months to as low as 7.0 months of supply.
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