By Living Room Realty, February 9, 2021
We’ve all heard the horror stories about the madness that await buyers in markets such as; LA, New York and San Fran. What if I told you the Portland housing market is quickly changing and emulating some of these larger markets? When the pandemic began, so many feared we would be back in at 2008 scenario. If you have been a home buyer, waiting for prices to fall, I’d suggest looking at the data. We see no such thing in the near future.
Buyers who are able to remain dedicated and understand the unique challenges this market brings, benefited from the fast appreciation seen in the last 12 months. Across Portland the average home price has increased by 10% or more. Interest rates remain the lowest we’ve seen in years. helping to absorb some of the immediate sock of the increase price tag. This is not the time to wait around and see what happens with the market. Home prices are rising and you don’t want to be priced out of Portland!
