Home Inventory
The Greater Portland Inventory is the lowest it has been since 2006. In fact in a normal economy, an inventory level of 5.3 is indicative to the beginning of a buyer’s market. I would not say that this is the case here however more and more buyers are taking up to a year to find their dream home. In the last several weeks, cases of multiple offers have been reported. I would attribute this situation to the fact that prices have come down substantially from its 2007 high in addition to having the lowest interest rate ever!