Friday, May 30, 2008

Portland RMLS Sales Preview

Last month was a bad month for my sales predictions; my model over estimated the number of sales by 10 percent. I figured there would be 1,740 closed sales but there were actually 1,581. If you look at the graph this shouldn’t have been too big a surprise since most Aprils don’t match up very well.

May's data is much more accurate and was off by only 2% the last few years.

Click on any graph for a better image.

May’s closed sales look just as bad as last month’s numbers. Based on the pending sales published by the RMLS there will be about 1,850 sales for May; a 34% decrease from a year earlier. Here is what that would look like…