Portland’s real estate cooling trend continues. While inventory remains low enough to term this a “seller’s market,” most in the market realize that buyers have had enough with double-digit increases year after year. Interest rates are refreshingly low, giving buyers more buying power than they have had in the past couple of years. That said, buyers are being patient and conscientious about spending these new-found dollars.
There are still tremendous equity gains to be realized as a seller in this market, but seller patience is vital because homes are sitting on market longer than in previous years.
What’s down?
Interest rates. Closed sales. New listings.
What’s up?
Pending sales. Days on market. Buyer confidence.
Wait a Minute. What is Going on Here?
Of all the the charts and graphs that RMLS provides us on a monthly basis, I believe this one is worth keeping an eye on in the coming months.
Supply is essential steady the past couple of months versus last year. Are falling interest rates and rising buyer interest enough to cause an accelerated uptick in the market again? Time will tell.
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Danni Duggan and Charles “Bud” Garrison | Oregon Brokers | Premiere Property Group, LLC | Licensed in Oregon | 503-719-2279 | danni@dannipdx.com
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