Mar
29
2007
RMLS Market Action Feb.
By Charles TurnerRMLS released February’s Market Action report.
Click on the graphic to enlarge.
Inventory levels dropped last month from a peak in January. Appreciation over 12 months still looks good but I can’t put a lot of stock in the numbers since it averages out some hot times and some not-so-hot times. It is interesting though that Milwaukie/Clackamas has the highest 12 month appreciation rate; North Portland usually has the honors. I do feel buyers are returning to the market; we have more pending transactions now than we have at any given point in the last six months.
How do we reconcile the numbers above with the numbers here:
http://tinyurl.com/22g6se
The overall number of houses for sale jumped by 80 percent, to 9,901 on March 1, from 5,503 a year ago, according to figures from the Regional Multiple Listing Service.
Do your numbers above exclude condos?
The number of closed sales fell 6.8 percent in February, compared with a year ago, consistent with falling demand since last fall.
OK, closed sales may be up Month to Month (as compared to January), but they’re down YoY (comparing this February to last February).
we have more pending transactions now than we have at any given point in the last six months
This is what would be expected, though, correct? March, April, May are peak sales months. Sales start heading down in the Fall.