Buyer’s are still getting the pick of the litter with current inventory levels so high in Metro Portland and the surrounding suburbs.  Increasing interest rates, a large housing availability, and fewer numbers of buyers and investors entering the market, are all factors which have been at work to fuel this slow market time.

In addition, continuous media banter about housing bubbles bursting and the real estate slump in many metropolitan areas, has nervous buyers on edge and has deterred some from buying now.  It should be noted that CNN recently reported that Portland, OR is NOT experiencing the bursting housing bubble that supposedly exists in the major east coast and midwest markets.  In fact, even though housing prices have gone down, overall housing prices have continued to appreciate in the Metro Portland area, just at a lower rate than sellers have become accustomed to.

If you are thinking about buying a home or investment property, now would be the perfect time to do so.  Although interest rates continue to rise, on a relative historical basis, they are still low - hovering just under 6% for a 30 year fixed loan.  In addition, the longer market times are forcing motivated sellers to drop their list prices to try to get a faster offer.

I would love to assist you with your Portland purchase.  Please contact me today at phyllis@pointclickandpack.com or at 503-421-2407.