From Altos Research (and for what it is worth), some data about the housing supply and demand conditions in Portland: a 10 city composite and two other cities I chose for comparison. The average listing price is not very worthwhile, in my opinion, for reasons I have mentioned before; it could be the index has declined due to falling house values or because fewer higher priced houses are being offered for sale. The supply and demand proxies are interesting - the listing inventory and the average days on market - but are they meaningful? I am not sure, but I can't see much to make of it all - still, for data junkies, I am here to serve.
Friday, March 14, 2008
Portland Housing Market: New Data
From Altos Research (and for what it is worth), some data about the housing supply and demand conditions in Portland: a 10 city composite and two other cities I chose for comparison. The average listing price is not very worthwhile, in my opinion, for reasons I have mentioned before; it could be the index has declined due to falling house values or because fewer higher priced houses are being offered for sale. The supply and demand proxies are interesting - the listing inventory and the average days on market - but are they meaningful? I am not sure, but I can't see much to make of it all - still, for data junkies, I am here to serve.
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Hi Patrick,
Here are a couple of AltosCharts to display some points in your article.
This first one shows both median price and inventory trends in the city of Portland over the last 9 months or so. Inventories are certainly on the rise while list prices are remaining stable:
http://charts.altosresearch.com/AltosCharts/OR/PORTLAND/a/median_price:l,inventory:r/a/a/m/e/sf/552.png
Separately, here's an AltosChart that displays price trends by Quartile. You'll notice that the top end of the market has not seen much of a downward trend over the recent period:
http://charts.altosresearch.com/AltosCharts/OR/PORTLAND/a/median_price/a/1,2,3,4/m/e/sf/552.png
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