Report: Portland’s Home Supply Is Low, But Prices Keep Going Up


Portland's ongoing shortage of homes for sale continues to push up prices.

Portland’s ongoing shortage of homes for sale continues to push up prices.

Portland Tribune file photo

If you want to buy a home in the Portland metro region, be prepared to pay more and move faster than ever before.

The residential real estate market favored sellers even more than buyers in April. A shortage of homes for sale continued to drive up prices and reduce the total market time by the end of the month.

According to the latest report by the Regional Multiple Listing Service, 13,059 homes were listed for sale in the Portland metro region through the end of April 2016 — 286 fewer that the same period last year.

Because of the shortage, the median sales price increased

... read more at: http://www.opb.org/news/article/report-portland-housing-market-prices-demand/