CNBC, Fox News & Chicago Tribune all had great stories recently about optimism in the Housing market.Â This is truly great to hear.Â Itâ€™s not that there hasnâ€™t been good housing stories to report, but that several sources are reporting how things are turning around and not beating negative stories into the ground.Â
The Chicago Tribunestory reads, â€œReports from two major banks suggest housing market is on the mend.â€ It went on to read, â€œWells Fargo issued 54% more mortgages than a year ago and took 84% more applications.â€ Â The Fox Newsâ€™ story reads, â€œUS home-buying season finally signaling a recovery.â€Â and, â€œmany people seem to have concluded that prices won't drop much further. In some areas, prices have begun to tick up.â€ Â
Our local RMLS MarketAction report shows that we are down to 5 months of inventory in the Portland Metroplex.Â We havenâ€™t seen inventory this low since June of 2007!Â Some areas closer into the core of the city are experiencing inventories much lower.
This has been a long schlogg and it is exciting to see things turning up.Â