Gresham and Troutdale, Oregon Market Statistics as of February 2008

Posted on: March 20, 2008

These market statistics are compiled by RMLS™ of Oregon and represent data collected up to February 2008.

The absorption rate for the Portland metro area is 10.4 months; this amount fell 2.4 months from January’s record high of 12.8 months despite an increase in the number of listings. The increased sales volume in February seems to be the cause of this recent market shift.

Interest rates remain low. Freddie Mac reports the average 30-year mortgage rate as of March 13th to be 6.13%, which is still less than the 2007 yearly average of 6.34% but higher than last month’s 5.72%.