August 2010 Portland Metro Market Action

17 09 2010

 So, last year was better than this year in August by 25%!  Yikes!  Where is the discrepancy?  One thing… it’s emotional.  Last year, we were tired of the recession talk and willing to step out and move forward.  Folks who hadn’t lost their jobs figured they weren’t going to lose them in the future.  This year, the glass is 1/3 full.  Closed sales down 25% and pending sales down 21.7%, plus new listings being up 1.3% adds for a little more bootstrap pulling into the Fall. As they say in the world of surfing wth boots on, you don’t have to out-surf the next shark…just the next surfer.

 The month-to-month report is more optimistic as the closed sales were down from July to August by 2.2% but pending sales were up 3.6%.  And, the prices are up a click to near 1% over last year and the month of July.  (I am still working on the best metaphor for an explanation of the prices up vs. sky is falling piece). 

 To wrap this up, in my estimation, the market is going to continue emotionally through the Spring of 2011 unless we see an improvement in the jobs sector.  We have stepped back to Fall 2008 when we were concerned with what was going to happen next as country—skip the election piece.  Oddly enough, our inventory numbers are currently mirroring the market of 2008 for the Portland Metro Area.

 The State of Oregon Economists have a blog which I keep up on to get new info with their spin which is always fun.  I frequently serve balls into their court to challenge their reports.  However, it does give decent update on what is going on from their perspective.

More soon,

Dustin Miller




One response

9 01 2012

I tried it on both and it worked for me. You might try again and see. If not it may just be Bing or your computer settings.


Dustin Miller

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