This graph is a part of the June RMLS Market Action. It shows the number of quarterly closings over the last 12 years. It’s a great representation of where we are and where we have been.
This graph is a part of the June RMLS Market Action. It shows the number of quarterly closings over the last 12 years. It’s a great representation of where we are and where we have been.
That is an informative snapshot there. So, 10-12 years ago, was Portland considered a “slow” or “soft” market? I can see 03-06 as a sort of aberration, but my big question is, is it possible to return to the late 90s model? And if so, was that not a good market?
This chart would be more useful if adjusted for population growth.
LJ, I’m not sure of the answer as I was not a Realtor then and keeping a pulse on the market. I doubt we will return to late 90s’ prices. I think everybody would be happy and the market would be stable with annual appreciation numbers that beat inflation by a single-digit percentage; probably 3-7%.
Tiffany, the chart would also be more useful if it had the upcoming winning lottery numbers in it but since it doesn’t we’ll have to take it for what it is worth. That is unless you want to create said population v. closings graph and I will post it here. You have the same access to the data required that the rest of us do.
“the chart would also be more useful if it had the upcoming winning lottery numbers in it but since it doesn’t we’ll have to take it for what it is worth.”
I think that very well might be my favorite comment ever.
Nice chart Charles… absolutely points down for Portland. there will be more sales next year at 20% discount. Lowest number of sales in the 1st and Second quarters since 199?, Yikes!
Very curious to see what happens in Q4
I agree: nice chart. It’s hard to make sense of what’s going on without historical norms.
Inventory of single family & condo up 150 percent from Apr 2006 – over 23000 for Portland & surrounding area now. Sellers can’t hold on at current asking prices-this chart shows that very clearly.