In December, the Portland, Oregon real estate market experienced a significant decrease in housing inventory, falling by almost a quarter from 3.5 to 2.7 months. Housing inventory, a crucial metric indicating the time it would take to sell all current homes at the current sales rate without new listings, reached historically low levels.
Despite the decrease, it's essential to note that this drop doesn't necessarily signify a substantial increase in market activity. December saw a 40% decline in new listings, while closed sales only decreased by 1%. This disparity explains the reduction in relative inventory without a corresponding surge in sales. Stay informed about the latest trends in Portland real estate with our expert insights.
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