Dear Claire: What is Housing Inventory and How Does it Work?
Understanding Housing Inventory: What It Means for the Portland Real Estate Market
Today on Dear Claire, we talk about housing inventory.
What exactly is housing inventory, and what is considered normal housing inventory? Housing inventory is the amount of time that it takes the total available houses for sale to completely turn over. A normal amount of inventory is considered around 6 months.
So what is it like right now? We actually have 2.2 months of inventory right now in the Portland market – making it clearly a seller’s market, as buyers have to be more aggressive. It is starting to tick up, slowly transitioning back to a normal market – 6 months of inventory.
Another question I get is what is inventory movement? It’s related to the actual number days that a property is on the market – the amount of time from date of the listing a property to actually selling it. Currently that is about 48 days for the Portland metro area.
Give me a call or email me if you have any questions about this and subscribe to our YouTube channel. Now we’re official, Claire at Paris Group Realty or 503-998-4870.
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