Year End Jump in Sales
855 homes sold in Portland this December, which is 119 more than November. Home sales picked up right where they left off in the Fall, and this Winter is off to a solid start. The high number of sales promises to keep inventory low, even before the Spring and Summer rush.
Wild cards: As prices rise, more buyers are priced out of the market which could slow the pace of sales. Interest rates remain low. Out of state investment continues to push prices and rents higher and keep inventory low.
I’m predicting around 750 closed sales in Portland (RMLS areas 141, 142, 143 & 148) in January.
Sales volume is a leading indicator for price. To help predict where the market is going I publish this sales volume trend report. The wisdom is that price follows volume so when you see a market trending higher in sales, prices will soon follow up and when sales volume is low, prices will stay flat or fall.