Tuesday, June 19, 2018

Portland Housing Market Consolidates, Ready to Breakout

(Click on the image to enlarge)
Though the Portland housing market weakened in second half of 2017 (decelerated from $415K to $375K), the early indications of 2018 are promising, sharply reversing the downward spiral after forming a soft bottom. While the primary trendline shows a much flatter curve followed by a slight uptick, the 2-Mo MA confirms the bottom as well as the uptick, not to the extent the dataline suggests.

The normalized trend (bottom chart) portrays a fairly different picture: the trend was sideways until November, subsequently mimicking the primary. Both trendlines are confirming the sideawys and the uptick, however not to the extent the data point suggests. The strong sideways coupled with rapid reversal could pave the way for a stellar summer.

Note: This analysis covers the City of Portland, not the entire Multnomah County. 

- Sid Som, MBA, MIM
President, Homequant, Inc.
homequant@gmail.com

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