(Ian Sane)

Portland’s “hot” housing market has been much in the local news over the past few weeks – from KATU’s Your Voice Your Vote program on May 10^th, to Oregon Public Radio, OregonLive, Portland Monthly, Portland Tribune, Investigate West and more. Key facts, trends and perspectives in the coverage are distilled in this two-part posting focusing on 4 questions:

1. What is a hot market?
2. Why is the Portland housing market hot?
3. What are the benefits, costs and risks of the market – and for whom?
4. What steps are proposed to offset costs and minimize risks?

1. What is a hot market?

Portland’s inventory of homes reached a 10-year low in March according to the Regional Multiple Listing Service. At the sales rate current then, it would have taken just 1.9 months to sell all listed properties, well under half the national average…