The big news is that we hit a record low in Months of Inventory in September, and I don't expect October to be any better. While listings decreased almost 6% over last year this time, the more dramatic factors were pending sales up over 17% and closed sales up over 36%.
In my decades in Real Estate, I have not seen a market like this before. Who knew that this would be the effect when Covid hit? A combination of pre-existing pent up demand, low interest rates, and a strong desire of folks to move out of apartments and into homes has fueled this, along with people moving to Portland now that they can telecommute indefinitely.