Portland Real Estate Market News

  • I’ve been selling in the Portland real estate market since 2003, and writing about it since 2008. Each year I write an article like this one, to gauge the level of likelihood of an upcoming Portland real estate market crash. The Portland real estate market, did bubble up in the past, and crashed in 2008-2011 or so. Will it crash again in 2023? In order to answer this question we will look at some economic fundamentals. Although, I must say to start, from 2012 to early 2020, there were almost no signs of a slowing market or a bubble, until […]
  • According to National Association of Realtors’ lead market analyst, Lawrence Yun, predicts prices will be flat (dropping in some areas) in 2023, but they are expected to rebound 10% or more in 2024. In other words, 2023 might be a golden opportunity to buy into the Portland, Oregon real estate market that is currently dropping in price. Portland Multi-Family Opportunities Opportunities abound in the local Portland market, starting with price drops in multi-family housing for sale. (Click the link to see the latest price drops.) One might think that rents are down, given the vast number of multi-family homes for […]
  • Have you toyed with the idea of putting an ADU on your property or buying a Portland home with an already-existing ADU? More and more, owning a home with extra living quarters is becoming a desire for many. Having extra space will allow you to house extended family or generate consistent rental income. It will also increase your home’s future resale potential. Portland’s housing profile is changing, and it’s important for all Portland home owners to stay on top of all the recent trends. To top it all off, Portland Homes with ADUS sell for more. Read on to learn […]
  • As the greater Portland real estate market cools off, 2023 looks to be a fantastic time to purchase a home. But even within that year there will be months where it is easier to find a home you want for a good price, and months where it will be a lot harder. Overcome the challenges to buy a home in 2023, if you can. Certainly, the high interest rates are a significant challenge, but be sure to check out the low rate assumable loan options to bypass the issue entirely. Also be sure to check if you qualify for any […]
  • Soaring mortgages rates are causing the recent real estate market slowdown. These high rates, by in large, are the only reason for the housing slump. Inventory is still relatively low compared to prior years, and prices are actively dropping. Despite the new lower home prices, sales are still way down due to the cost of a new mortgage today. However, did you know it is possible for a homebuyer today to assume the seller’s loan and get that seller’s fantastic mortgage rate, no matter how low that interest rate might be? It is a true and present possibility. We’ll show […]
  • There are a lot of Realtors in the U.S. and in the greater Portland, Oregon metro where my team is headquartered. Over time, the big story in Realtor numbers was a drop that lingered for years after the real estate crash that started in 2008, then a sharp increase in the number of Realtors every year since 2013 to today (about ten years of significant increases). After 2020, Realtor counts had their biggest ever increases in 2021 and 2022, while the market was red hot. Now as the real estate market is cooling down and prices are dropping, there is […]
  • In order to increase your changes to sell a home in 2023, which is expected to be a tougher real estate market than usual, it is most important to know exactly how homes sell across the country. What causes a home to sell or not? We perform a ton of research locally to answer that question, and thankfully NAR, National Association of Realtors, puts out a huge report annually to assist in answering how homes sell nationally. Three Main Factors that Lead to a Home Sale According to the latest NAR fall 2022 report, the buyer found the home they […]
  • We’ve written before about the many architectural styles you’ll find in Portland, and in this article, we’re adding another one to the list: the English Cottage. Inspired by the original cottages from England, these homes possess a welcoming feel that call up images of cozy comfort and charming whimsey. The grounds of these homes tend to be as important as the homes themselves with lush outdoor spaces created to allow for relaxing and communing with nature. See the full map of all English Cottage homes for sale in Portland. Characteristics of an English Cottage Style Home in Portland Exterior One […]
  • Canby, Oregon is a city in Clackamas County, south of Portland, with a population of about 18,000. It was named after Edward Canby, a Civil War general and platted in 1870. Canby has its own downtown shopping center with a mix of highly rated restaurants, bars, and retail shops. The city has plenty of parks, a cinema, swim center, museum, library, skate park, and more. Little known fact, Canby has its own ferry that transports cars and passengers across the Willamette River to Wilsonville, Oregon. With all of these quaint amenities, it is no wonder Canby, Oregon is a desirable […]
  • The big story for the Portland real estate market as we approach December 2022 is the lack of sales due to home buyers pulling back. While that is the headline, we will get into all the statistics behind the drop in sales here. Inventory is High, But Finally Dropping Now inventory isn’t falling as fast as it did in 2020 or 2021, but inventory is finally starting to drop after rising since Feb. Inventory should continue to drop as we approach the holidays, but will likely stay higher than in recent years. Lower inventory is important. Right now buyers are […]