Housing demand outpaces supply in June

Housing demand outpaces supply in June

With the housing market stabilizing, Oregon buyers waiting for the market to bottom out are now preparing to buy.

The 8,799 homes on the market would sell in 3.9 months at June's sales rate. Six months is considered a balanced market, and anything less shows more demand than supply. The last time the measure was lower was March 2007.

"It's not like we have a shortage of buyers," said Brian Houston, the principal managing broker at Coldwell Banker Seal in Portland. "There are buyers ready and able, ready to go. We just have a shortage of homes."

Read more at OregonLive.com.

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