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RMLS Market Action June 2010

RMLS Market Action June 2010 InventoryThe Portland real estate market continues to plod along according to June 2010 RMLS Market Action statistics reported on their website.  Last month I started to break the Portland inventory numbers down to a smaller area as the Portland Metro area reported by RMLS encompasses five counties.  The metro chart is on the right and the Portland data is below.  In both cases inventory, the ratio between active and sold listings, increased a little.

The rest of the metro data is a mix of up and down:

When comparing June 2010 with June 2009, closed sales increased 13.3%. Pending sales and new listings fell 25.2% and 4.9%, respectively.

Comparing June 2010 with the previous month, May 2010, closed sales dropped 1.9% (2,012 v. 2,050) and pending sales grew 8.4% (1,618 v. 1,493). New listings also rose 16.3% (4,049 v. 3,482).

The 8.4% increase in pending sales contrasts with a 50.1% drop between May and April (there were 1618 pending sales in June, 1493 pending sales in May and 2991 in April).  April 30th was  the deadline to enter into a contract for Home Buyer Tax Credit eligibility.  For comparison purposes, there were 2852 pending sales in July 2007, close to the peak of the Portland real estate market.

Portland RMLS Inventory

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