Portland Metro Housing Update - Resale Only
Healthy Intensity for New Listings
Although the housing market experienced a major intensity adjustment, the percentage of homes going under contract within the first 30 days is healthy to strong. In Portland, this is the experience for homes priced up to $1.5 million where 99 percent of sales take place.
SALES ACTIVITY INTENSITY™ SCALE
6.06%
4.13%
4.35%
2.89%
UNBELIEVABLE INTEREST RATES
3.18%
MONTHS SUPPLY SCALE
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KEY MARKET INDICATORS OCTOBER 2022 (September Recap)
The highest number of unsold properties is normally September, with January 1st being the low point of the year. Over the fall market there are fewer resale listings on a weekly basis. Plus, there are three major holiday weeks with few new listings. Additionally, some unsold inventory in the upper-end and Luxury price points either expire or are taken off the market and then return after the first of the year. Home buyers during this time are more resilient, therefore the intensity for new listings starts heading higher.
THE WINTER CLEAN-UP BEGINS
