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re:PDX is written by Ron Ares, broker and market analyst affiliated with M Realty LLC in Portland, Oregon.
Phone: 503-460-7992
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Will You Need a Year to Sell Your Home?
Ok, a misleading title…
Sales results for January 2008 were released by RMLS this afternoon and let’s just say that buyers sat on their wallets in the first month of the new year. At the current rate of sales, the housing inventory at the end of January would take nearly 13 months to sell.
Folks, that is the highest inventory ratio since January 2000. There’s more to the story, of course. Come back on Monday for more in-depth analysis.
Until then, have a good weekend 
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