RMLS Market Action Report
In case you missed it, Portland's Regional Multiple Listing Service reported last week that housing inventory for April was the lowest we've seen for April in years. With only 2.8 months of inventory, home sellers are definitely calling the shots which could prompt another year of bidding wars and rising prices.
As we head into the home buying season, prices could rise quickly. In April, the average home price in Portland was $325,100, up 10.7% from the same period in 2013. We are around 7% below the peak prices of 2007 and prices still have room to grow.
The bottom line is if you have been thinking about finding a new home, now is the most affordable time to buy as interest rates are still low and prices continue to go up. If you have been thinking about selling a home, buyers are out in full force.
I would love to help you make your real estate dreams come true. Call me at 503-318-1918 to find out what I can do to help you during this crazy real estate period.
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