April Market Action Report

The Portland Metro area real estate activity is strong- more inventory and more closings than April of 2017.  Inventory loosened up slightly from March to April as our beautiful weather prompted more sellers to get their homes ready and list them.  The average sales price continues to rise, but overall, the market is at a healthier place than it was in 2016 with slightly more inventory and less multiple offer situations.  The biggest thing to watch over the next few months is what happens with interest rates as they slowly increase.  Below is a snapshot of interest rates today as well as a five year rate history.  Don't wait until the winter for the market to cool off because rates are expected to rise.