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Portland's Inventory Slashes Lower in 2009!

4-15-2009

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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