Conditions are in place for a “June boom” in Portland real estate

Photo by Sean O. on Unsplash

The Oregonian | Janet Eastman

The roller-coaster effect of national spending, Oregon’s unemployment rate and conflicting economic forecasts are reflected in Portland’s residential real estate market.

The number of new listings of Portland area homes in May – 3,419 – skyrocketed 20.1% compared to the previous month (2,847), but was a staggering 30.3% drop compared to May 2019 (4,902), according to the local listing service RMLS.

Read the story: Portland area housing market: Pending sales, new listings surged in May, paving the way for a June boom