April Closings on Mt. Hood Slide
The market conditions report in RMLS were a surprise for April with five closed sales for the month. Inventory surged in April with a whopping 31 new properties to hit the market. Although this news was a bit unnerving, there's currently 24 pending sales in line for closings so it could be a matter of the slower winter contracts in January and February that finally closed in April. I expect May and June's numbers to be substantially higher.
Recent surges in purchases have caused longer inspection periods due to scheduling home and septic inspections. The second delay is the appraiser delays. They are backed up due to the number of buyers purchasing this spring.
Although it's not reflected in April's closings, we will be seeing a great summer of activity this year. I've posted the five closed sales under the RMLS chart below.
April 2015 Sales
