I have to confess I’ve been a remiss blogger lately. But here we go… RMLS Market Action for February 2019 was released today. Portland Metro inventory remains low at 2.7 months. What does inventory mean in real estate? Inventory is the ratio of active listings to closed sales. If there are 100 homes on the market and ten close in a month there is 10 months of inventory. Tradition says that six months in a balanced market between buyers and sellers but I’d argue that is closer to four months as buyers have become more informed/savvy and willing to walk away in a transaction. That said, 2.7 months leaves us firmly in a seller’s market. Also keep in mind that that is for the five county metro area. North and SE Portland both have 2.2 months of inventory compared to West Portland’s 4.3 months- real estate is local!