RMLS Market Action for the Portland metro area was released on Friday. Metro area inventory spiked to 10.8 from June’s 7.3. The increase comes from both a rise in active listing and a slow down in closed sales.
I’ve also started to break down inventory by RMLS area for Portland. Five areas make up Portland and we can see that they do not mirror the larger metro market other than they are all increasing. City of Portland inventory, at 9.3, is a month shorter than the Metro but the smaller neighborhood areas lag or lead the city and metro rates.