The RMLS just released statistics for the month of December, and wow.  It has sure felt as though there are hardly any houses to sell and now I see why. There are only 3.6 months of inventory.  Meaning, at the current rate of sales we would sellout the inventory in 3.6 months.  The last time inventory was this low, it was August 2006 and we were in the middle of a crazy boom.

Not quite the case this year.  Instead, buyers are back in the market with a vengeance and interest rates are wonderfully low (if you are a borrower), while sellers think they may not be able to sell for what they'd like.  Or can they?

The median year to date sales price rose 6.3% from December 2011 to December 2012 to $235,000 when compared with a median year to date sales price of $221,000 in December  2011.

Looking at the past year, 2012 brought us higher prices, more transactions, fewer houses on the market and shorter market times.  It also brought frustrated buyers vying for too few houses.  In 2013 we hope to see more houses on the market (yours?).  We expect to see fewer bank owned listings and short sales. We also expect to see some interest rate increases as Fannie Mae drives some fees and costs into the lending equation.

If you've been thinking about selling, get in touch and we'll see where the value is on your home,  If you've been waiting to buy, don't wait too much longer. We don't want you priced out by increasing prices and interest rates - unless your income is going up too.

Leslie Jones 503-312-8038. leslievjones@gmail.com

Read the full RMLS report.