What is going on with Coronavirus & Portland Real Estate Inventory Episode 3
Today we are comparing the 3rd and 4th weeks of March 2020. We saw Pending home sales decrease by 30% from 534 to 385. New listings also decreased by 30% from 578 to 405.
As of April 2nd, there are currently 3,039 pending home sales and 3,746 active listings in the Portland metro area. 3 weeks ago the number of pending listings and active listings were about equal for comparison.
So how is the pandemic impacting home buying and selling?
Outlooks, rules, mandated all seem to be changing day by day. I personally think we all need to play our part in social distancing to curb the spread of the virus as much as possible. So safety first.
More opinions of the market can be found in the video.