April Inventory of Local Homes for Sale Increases for First Time Since 2019

New figures from the Regional Multiple Listing Service show that the number of Portland-area homes for sale in April rose for the first time since April 2019.

That’s a tiny bit of good news for buyers who have seen prices escalate ever higher. The bad news: The number of homes on the market in the Portland metro area last month, according to RMLS statistics—2,246—is less than half the supply in 2019 and significantly lower than the average over the past seven years: 3,795.

Here’s a chart of the supply compiled by Josh Lehner, an economist for the state.

The lack of supply pushed prices up again in August with the median home in the metro area selling for about $575,000.