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The Portland-metro area wrapped up 2014 with the best December for single-family home sale closings since 2005, according to data from the Regional Multiple Listing Service.

RMLS reports there were 2,239 closings in the metro area in December 2014 鈥� 25.6 percent more than in December 2013.

Within Portland city limits, 783 homes sold in December, compared to 685 in November, reported Nick Krautter, a principal broker for Keller Williams Realty.

鈥淭he market bumped up when it typically drops down,鈥� he said.

Krautter predicts record-low inventories and interest rates will continue to increase prices and encourage sales activity in the first part of 2015.

鈥淚nventory dropped to new lows in Portland this month,鈥� he said. 鈥淭his move signals continued appreciation and more robust activity than usual in the start of the year.鈥�

In December 2012, the Portland-metro area had 6,352 active residential listings. By December 2013 that number decreased to 5,707 and in December 2014 it was down to 5,146.

RMLS reports Portland-metro single-family inventory in December dove to 2.3 percent from 3.2 percent in November. Average home prices for the area jumped 7.2 percent from $310,600 in 2013 to $333,000 in 2014.