Porland Real Estate History
This graph is a part of the June RMLS Market Action. It shows the number of quarterly closings over the last 12 years. It's a great representation of where we are and where we have been.
By Charles Turner | Jul 15, 2008 | Comments (7)
Permalink: Porland Real Estate History
Previous Post: RMLS June Market Action
Next Post: Are Banks Digging Their Graves Willingly?
Home Page: Portland Real Estate Blog
Comments
That is an informative snapshot there. So, 10-12 years ago, was Portland considered a "slow" or "soft" market? I can see 03-06 as a sort of aberration, but my big question is, is it possible to return to the late 90s model? And if so, was that not a good market?
Posted by: LJ | Jul 15, 2008 1:57:25 PM
This chart would be more useful if adjusted for population growth.
Posted by: Tiffany Barnswell | Jul 15, 2008 3:06:29 PM
LJ, I'm not sure of the answer as I was not a Realtor then and keeping a pulse on the market. I doubt we will return to late 90s' prices. I think everybody would be happy and the market would be stable with annual appreciation numbers that beat inflation by a single-digit percentage; probably 3-7%.
Tiffany, the chart would also be more useful if it had the upcoming winning lottery numbers in it but since it doesn't we'll have to take it for what it is worth. That is unless you want to create said population v. closings graph and I will post it here. You have the same access to the data required that the rest of us do.
Posted by: Charles Turner | Jul 15, 2008 3:25:08 PM
"the chart would also be more useful if it had the upcoming winning lottery numbers in it but since it doesn't we'll have to take it for what it is worth."
I think that very well might be my favorite comment ever.
Posted by: Joel Burslem | Jul 16, 2008 10:22:26 AM
Nice chart Charles... absolutely points down for Portland. there will be more sales next year at 20% discount. Lowest number of sales in the 1st and Second quarters since 199?, Yikes!
Very curious to see what happens in Q4
Posted by: ReadyandAble | Jul 16, 2008 2:12:26 PM
I agree: nice chart. It's hard to make sense of what's going on without historical norms.
Posted by: Xena | Jul 17, 2008 12:56:17 PM
Inventory of single family & condo up 150 percent from Apr 2006 - over 23000 for Portland & surrounding area now. Sellers can't hold on at current asking prices-this chart shows that very clearly.
Posted by: Emigrant | Jul 25, 2008 2:59:34 AM
Post a comment
TrackBack
TrackBack URL for this entry:
http://www.typepad.com/t/trackback/277303/31262498
Listed below are links to weblogs that reference Porland Real Estate History:
