Average Sale Price is Down 5% in Portland Metro as the Inventory Squares up with Last Year

Average Sale Price is Down 5% in Portland Metro as the Inventory Squares up with Last Year

• After a couple weeks with the Average Sale Price in positive territory vs last year, it slipped to a 5% Deficit vs the same week last year.  
• Mortgage Rates increased a quarter of a point over the last couple days - putting rates at 6.75% (at best), with Most Lenders Well Above 7% for the 30-year fixed).  
• The number of New Transactions remained on par with the median we've been seeing over the past 10 weeks.  

• The Supply of homes increased nominally, with an increase of only 109 homes for sale vs last year's increase of 429.  This brought our inventory to 1.1% Higher than Last Year.  Only 4 months ago, the inventory was more than double what it was the previou