Did anyone see the record low inventory we have in Portland, Oregon?

Asked by Dustin Miller, Lake Oswego, OR Thu Apr 11, 2013

I was amazed to see an increase of new listings by 22% over last month but the sales consumed that number and brought the inventory down to 3.2%! Hot neighborhoods have less than a month of inventory.

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4
The Stephen…, Agent, Portland, OR
Fri Apr 12, 2013
Prediction here - it will get worse. There are so many motivated buyers right now, it is truly amazing.
0 votes
Stephen: I agree. Cash will be king as people are entering our market.
Flag Fri Apr 12, 2013
Marvin Von R…, Agent, Tigard, OR
Thu Apr 11, 2013
What Tom said. Plus---its the time of year. Of course more properties list to get ready for the summer buying season. Some of those sellers also want to buy and need to be sold and ready. Its normal market. And its a fun market only for SOME sellers. Remember thousands of homeowners lost so much equity that they cant sell or buy anything else. The SHORT SALES and REO sales continue to keep values down in many places, further hurting regular sellers. I think the public is finally realizing that buying a short sale is not fun or easy, and starting to look more at regular sales (called 'fair market' sales) as long as trhe prices are not that much different. And again, its beginning the summer buying season which will see activity increase no matter what the economy or equity is doing.
0 votes
Tom Inglesby, Agent, Portland, OR
Thu Apr 11, 2013
Very difficult for first time buyers because of all the investors that are trying to buy rentals and with all buyers 37% of them are paying cash. I have not presented an offer in the past 6 months as the only offer. Don't sit and wait you need get educated in the market. Thanks, Tom Inglesby
0 votes
Jennifer Pet…, Agent, Portland, OR
Thu Apr 11, 2013
Yes, it's a fun market for sellers!
0 votes
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