I’m tracking data for many local markets around the U.S. I think it is especially important to watch inventory this year.
For Portland, OR:
Closed sales in July 2021 were 3,439, up 1.4% from 3,391 in July 2020.
Active Residential Listings in July 2021 were 3,180, down 23.1% from 4,133 in July 2020.
Months of Supply was 0.9 Months in July 2021, compared to 1.2 Months in July 2020.
Inventory in July was up 16.8% from last month, and up 65.5% from the record low in March 2021.