RMLS Market Action for October 2013 is hot off the press and it shows that housing inventory in the Portland Metro area dropped to 3.4 months. Inventory was 3.7 months in September and 3.8 months this time last year.
The average sales price is $314,100 which is a slight drop from September but up 13.5% from October 2012. That level of year-over-year increases isn’t sustainable. Historically housing prices have increased about 4% over time and after the bubble crash, we’re still behind that but not by much. [Graphic below infographic]
We’ve created a new info-graphic for this month’s Market Action (click image to view full size):