April brought stronger Portland-area home sales and a spike in prices, new numbers from the Regional Multiple Listing Service show. The listing service reported 2,734 homes sold in the Portland area in April, an increase of 27.6 percent from a year ago. If that sales rate continues, it would take less than two months to sell all 4,853 homes on the market at the end of the month. About six months of housing inventory is considered a balanced market, and the 1.8 month supply of homes suggests a strong seller's market.
-Elliot Njus, The Oregonian