The real estate market in Southeast Portland has become more and more competitive over the last few months. Inventory (homes for sale) has continued it's seasonal drop over the winter, but the number of buyers has stayed the same. So there are more people looking at and making offers of the same few properties. In Inner SE PDX homes there are enough buyers, as of February 2012, to buy up all the houses currently on the market in 6 months. A 5-6 month absorption rate is considered a neutral market, 4 or less months is a sellers market. If we continue on the same trend we have recently seen the market will only become more competitive. Eventually this leads to multiple offers on homes, prices increasing, and the housing market stabilizing.