Portland housing market tight, despite recession

Portland housing market tight, despite recession

Reduced inventory is driving up prices and limiting sales.

A year ago, as prices continued their decline, there was a 6.8-month supply across the metro area. In January of last year – a seasonally slow sales month – the supply was 11.3 months.

But by May of this year, the supply of listed homes across the metro area would sell in 4.8 months. Six months is generally considered a balanced market, with anything less reflecting a market where demand outpaces supply.

Read more at Oregonlive.com