Elliot Njus of Oregonlive looks at June listing data as a possible indicator of increasing inventory and relief for a tight and competitive housing market in Portland. The numbers are a glimmer of hope for the summer buying season; my analysis shows that Vancouver is also experiencing a bump up in available homes. Unfortunately, this will not be enough to meet the demand. On average we have one month of inventory for the majority of neighborhoods in Portland and Vancouver. The fact is that sooner or later every buyer finds a home, the questions in how long will it take to find your home? Persistence and patience will always win in this competitive housing market.
Those bidding wars aren’t going away, particularly for the most affordable homes, and prices continue to rise. The median home price reached $390,000 in June, a 7.7 percent increase from a year earlier.read more at oregonlive.com
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