866 homes sold in Portland this March, which is 300 more than February. Home sales are on track to match or exceed the all-time highs set in Summer of 2005. The market is still favoring sellers and promises to keep inventory low even before the Summer rush.
Wild cards: As prices rise, more buyers are priced out of the market which could slow the pace of sales. Interest rates have dropped close to all time lows. Out of state investment continues to push prices and rents higher and keep inventory low.
I’m predicting around 900 closed sales in Portland (RMLS areas 141, 142, 143 & 148) in April.
Nick Krautter is the author of The Golden Handoff: How to Buy and Sell a Real Estate Agent’s Business which debuted number one on Amazon for mergers and acquisitions. His goal is to teach real estate agents how to grow their business and to help them later retire and benefit from their years of hard work. For the last decade Nick has been a Realtor in Portland, Oregon, where he leads a team and frequently serves as a real estate expert for the media.