The greater Portland area shows a marked decline in the number of competing homes for sale. There are now 3.6 months of housing inventory, which means our market would run out of homes in 3.6 months at the current rate of home sales.
By contrast, the greater Salem area now has a 7.3 month backlog of housing inventory, twice that of Portland.
Because Aurora, Oregon is located equidistant to these two Oregon housing markets, Aurora tends to experience more of a mixed effect on housing inventory. Click on the two reports above for the latest on both regions.