Finally getting around to reading RMLS Market Action report for the month of August.
As expected, month to month numbers cooled from July to August. Closed sales and pending sales were both down. Supply levels increased only slightly (from 2.8 months to 3.1 months) because new listings were also down. The average sales price and median sales price both declined in August when compared to July, but show a large increase when compared to August of 2013 versus August of 2012.
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The trend over the past couple months (and into September) is showing that the 2013 market has been much stronger than the 2012 market. The market has been showing signs of cooling over the past 3 months, but as a whole 2013 has shown gains throughout the Portland Metro market area. |