The suburbs are hopping!

RMLS just released the stats for May 2019,  and boy did we have a busy May.  Our closed sales were up 5.9% over May 2018, and 23.2% over April 2019.  It was our busiest May since 2006. I wonder what that is about.

Pending sales are up a bit, and the year to date median price increased a tad 0.7% over the same time period in 2018.

The most active areas (% increase in pending sales and price increase %) were Southeast Portland (with a lot of that activity in outer Southeast), Gresham/Troutdale, Oregon City/Canby, Beaverton Aloha, Columbia County and Yamhill County.   Notice anything?  These are primarily suburban or rural areas.

We often tell buyers frustrated at prices and competition close-in, to drive until they can afford it.  I think that is what is happening here.  The increased activity, but very slight increase in prices can mean that more buyers are buying reasonably priced properties.

Click here to see the complete RMLS report.