Housing Inventory Is Up – Buyers Have More Options

In the latest Portland Metro Market report RMLS reported that October 2022 had more homes on the market, the same amount as pre-pandemic levels. Additionally, homes are sitting on the market longer. As a result, the median sale price is down by 2% from Sept 2022 and closer to the median sale price of October 2021.

Buyer Opportunities:

  • More options
  • More time to make decisions
  • Better contract terms
  • Opportunities to negotiate on homes sitting 30+ days on the market.

Seller Opportunities:

  • Little competition: Inventory remains at record lows. Most homeowners refinanced. They sit at 3% interest rates and will likely not return to the market.
  • Still a Seller’s Market

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