Decrease in REO and Short Sale Listing Inventory

Dated: April 21 2013

Views: 1318

The Portland / Vancouver area is experiencing a drastic reduction in the amount of distressed properties and REO hitting the market, leading to a shortage of inventory for homebuyers.

Recent statistics from the RMLS show that approximately 80% of all sales were regular homeowners with equity. This is very good news for sellers... not so good for buyers! Multiple offers on newly listed and competitively priced properties are becoming all to common, and prices are inching up.

Experts predict there will be a slight increase in the amount of bank owned and short sale homes in 2013, but not enough to reverse the trend of the shrinking housing inventory. What this means for buyers - if you are on the fence, you should probably make a move while interest rates are low.

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Julie Baldino

Julie Baldino is a seasoned veteran of the Pacific Northwest real estate industry, and has consistently been in the top 10% in sales for over a decade in 2 states. In order to accommodate a rapidly ex....

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