Portland's Inventory Slashes Lower in 2009!
At the end of January Portland's real estate climate saw
all-time high levels of inventory. There were 19.2 months
worth of real estate inventory. This meant that at the
current rate of sale in January it would have taken
approximately 19.2 months to clear off the existing inventory.
Now with statistics out for March 2009 Portland is now at 12
months of inventory. Portland has somehow shredded 7.2
months of dead weight off their market. It was a much
needed confidence booster for the area as well as getting supply
that high just created a real lack of motivation to sell and
even a lack of motivation to buy. Buyers were hesitant to
pull the trigger because they did not feel their good deal was
good enough. Many buyers had too many houses to choose from
which caused a real lack of motivation. If they didn't get
that home they were feeling like "oh well there's another one
where that was."
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