Portland Oregon makes the National Association of Home Builders list of 100 Improving Housing Markets
I've been noting a change in the real estate air lately..and this report form the National Association of Home Builders is a nice confirmation of what I've been seeing and hearing. Here in the Portland Metro area, new construction is up, home inventory is down, and buyers are coming out of the woodwork!
December of 2011's home inventory from the RMLS was at 5.3 months. The last time we were this low was in 2006-2007. In some areas such as inner SE Portland, the market trends show that it the inventory is sitting at 2.6 months where twenty minutes away in Tualatin is showing 3.8 months.
I'm of course curious as to what the January and February reports will show as more homes start coming on the market.
I do however know that the office climate is a bit different lately. The phones are ringing, the printers are buzzing, and agents are using those neglected conference rooms meeting clients. I'm actually hearing positive NATIONAL as well as local news!
If you're a buyer sitting on the fence waiting for the home prices to drop more, you might just miss this window of opportunity to get into a home with record low interest rates.
If your thinking about selling your home, this might just be a great time to consider it while the inventory is low. I know I've been working with buyers that are looking in certain neighborhoods. Having looked at everything already on the market, we're now waiting for new listings.
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