Ultra-low inventory slows down Portland-area housing market

Small Town Street Scene

For the first time in recent memory, the number of closed and pending home sales in the Portland area saw an annual decline, according to the April edition of the Regional Multiple Listing Service’s monthly report. With the housing market on a tear, the report had become predictable from last summer into this spring – the number of closed and pending sales for a given month was either the most since before the recession, or the most of all time. But the 2,611 closed sales in April marked a 4.5 percent drop from the same month last year, and pending sales fell from 3,613 in 2015 to 3,076 this year. For more on this article CLICK HERE