Welcome to another Portland Metro update on the residential real estate market! This Summer saw prices start to plateau for houses in Portland and the market is much more neutral for Buyers and Sellers.
Interest rates for a 30yr fixed mortgage climbed up to 5% and 6% reducing first time home buyer’s purchasing power. Sellers have had their own share of difficulties with longer days on market to balance things out.
Portland as a city has had it’s fair share of bumps and bruises during the last 2 years. Concerts have returned to downtown, schools are back in session and restaurants have opened up again. A sense of normalcy has returned to this great place I call home.
To view a detailed weekly market report from my preferred title & escrow partner, click below.
If you are ready to sell or buy your next home, call or text: 503.891.4725.
Thank you,
-Justin