RMLS has released the November issue of the Market Action report. The news of course and as expected is not good, we’re continuing to decline with a current inventory of 15 months and closed sales of only 1,041 which is the lowest we’ve seen since 1993! Listings are down as well which is good however the closed and pending sales are down by a higher percentage and we need to see that trend reverse for a Portland real estate market recovery to happen. Take a look at my comments on the market action report here and you can also download the full report to review on your own from that same page.