RMLS has released the June 2009 Portland Metropolitan Market Action Report. There are some positive stats in the report that show we are headed towards a more balanced market. This June, same-month pending sales were up for the first time since December 2006 in the Portland Metro area, and inventory reached its lowest point (8.2 months) since August 2007. Remember most analyst believe a balanced market is somewhere between 4-7 months worth of inventory depending on whether prices are appreciating or depreciating.
Some other positive news in that closed sales increased 24.5% over May and pending sales were up 10% for the same period. The increased number of closed helped to drop the inventory to 8.2 months even with increased listings over the month of May (+9.7%).
A key characteristic of a sales leader is knowledge of these stats, understanding their meaning, and being able to articulate what they mean to the consumer. If you need any assistance in learning how this can be done, please let me know.
Prudential Brokers your updated listing slides are linked below:
June 2009 Portland Metro Report
Make it a great day!
Coach Dan
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July 15, 2009
Miscellany