What's Happening with the Housing Market?

Every real estate market in the United States is localized, down to the specific neighborhoods in a city. Some large U.S. home markets are going through downturns and major changes.

Portland is nationally recognized as one of the three healthiest housing markets in the entire nation. In fact, we’re second only to Seattle!

After years of astronomical growth and a market that favored sellers, we’re returning to the kind of market we had before the huge growth years of 2003-2007. During this adjustment period, as the market returns to its sensible foundation, the conditions favor buyers. The selection is great, loans are available to qualified buyers and buyers right now are finding more value for their dollars than they’ve seen in years.

 

What's on this Site?

On the pages of this site, you can find up-to-date local, state and national reports that talk about what’s really happening in housing. You’ll also find links to recent news articles that discuss housing markets and trends. These and other helpful pieces of information can help you decide if now is the right time for you to get your own piece of Oregon.

This website is your ultimate resource to get help from the experts on answering your questions and helping you through the process of finding your first home or your next home, securing a loan at a fair rate, selling your existing home and more.

 

Who We Are

This site is sponsored by the Portland Housing Market Communications Council, a gathering of area business leaders representing building, home finance, realtors, utility and supply companies. The information we’re offering throughout this site comes from industry and academic reports – the same data that government agencies and the media use to understand and report on housing market conditions. By putting all this information under one ‘roof’, this site is your opportunity to see what’s really happening with the local market so you can make informed decisions about your home – whether you’re considering buying your first home, deciding whether to refinance your present home or shopping for your next home.

 

Market fact to ponder

The average sales price of a Portland home is currently $342,600, up $15,900 or 4.7% over last year where the average sales price was $326,700. Currently, the median sales price of a Portland home is $280,000. Compare that to a year ago where the median sales price was $279,000.  

 

“Be fearful when others are greedy...

Be greedy when others are fearful,” states Warren Buffet, the greatest investment mind of our time and the richest man in the world with an estimated net worth of $62 billion, according to Forbes. That statement is easily applied to today’s housing market, where fantastic opportunities abound for those with a realistic perspective on our housing market.

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