The results are in boys and girls, and last month seemed to be a mixed-bag of thumbs' up and thumbs' down.
And this is something I think I should mention in ALL the Credit Suisse Monthly Survey of Real Estate Agents Results that I post . . .
There are three categories. Each one is based on the "EXPECTATION" of the real estate agent taking the survey.
- Did buyer traffic meet your expectations?
- Are traffic levels above, below or normal with your expectations.
So when you see the little thumb's up on "Traffic" in a particular market segment, it means agents in that area feel the traffic is above their expectation. It doesn't mean, nor did it ever mean, that traffic was/is boosting upwards/rebounding. The results given in a category simply mean the agents' expectations (of traffic, price, builder incentives) were met, not met, or stayed the same.
With that in mind . . . buyer traffic has dropped considerably in the past few months in the Portland Metro area. While there may be a drop of inventory, it is coupled with a drop in buyers.
The Portland Metro real estate market has been STAGNANT for about 3 months now. I do not see the market moving with buyer traffic or new inventory for another 3-4 months.
I am lowering my expectations!