Sales dipped this quarter in a characteristic winter slump that is likely to continue through Q2 2019 before picking up during the summer and fall. The 838 units of new supply throughout the metro area is the lowest since Q3 2017 and Q1 2015 before that. Given the 10K units in the development pipeline, that number of quarterly deliveries will likely increase through the summer and begin to decrease in response to the City of Portland’s inclusionary housing policy passed in early 2017. The average and median pricing trends per unit did not change significantly from Q4 2018, although the overall number of units transacted is down 40% from Q1 2018. The statewide rent control measure, passed on February 28, 2019, will give many property owners cause for consternation, particularly if their rental rates were lagging behind market values.