Real estate isn’t always predictable. Given changing conditions, language used to describe housing is rife with lingo from other industries that experience constantly shifting events—some catastrophic—like aviation. While housing is axiomatically ‘grounded’ compared to the aircraft industry, from time to time Oregon real estate market activity is described as akin to a ‘bumpy recovery,’ ‘hard […]
As with any occupation, there are ‘insider tips’ in real estate. Exactly what are these little-discussed pointers and how can they benefit non-Realtors? In this edition of the Oregon Real Estate Podcast, we’ll briefly note why this little-known information can be so important, then we’ll get to these 5 little known ‘insider tips.’ Hear the podcast […]
Two common real estate terms are ‘seller’s market’ and ‘buyer’s market.’ What exactly do these terms mean and how do they apply to our current Oregon real estate climate? First, let’s define a ‘normal’ real estate market. Terms like equilibrium and stasis describe real estate climates favoring neither buyers or sellers. For example, let’s imagine a […]
While we’re not quite at Passenger Pigeon or Dodo Bird levels yet, among the more scarce items in Oregon right now are available homes for sale. Scarcity By The NumbersNew figures for greater Portland and Salem show no sign of Oregon’s white hot real estate market slowing down, at least yet. The inventory, or housing supply […]
Now that Spring Break, Winter weather and ‘tax time’ are largely behind us, the forecast for Oregon real estate is sunny, indeed. Here are five key reasons for an optimistic 2016 Oregon real estate forecast, which are explained further below: 1. Interest Rates Remain Very Low2. Housing Inventory Is Very Low 3. Better Weather4. The ‘School […]
Fresh figures were just released on Oregon’s real estate market by the Regional Multiple Listing Service, or RMLS. To put the results in a nautical vernacular, we remain ‘steady as she goes.’ Portland MetroLet’s begin with greater Portland, where our backlog of home supply is unchanged at 1.8 months. This means our housing supply remains […]
A Rising Tide Raises All BoatsReal estate activity in parts of the Willamette Valley may not be an economic tsunami, like greater Portland. However, since ‘a rising tide raises all boats,’ the effect of the Portland metro’s buoyant market continues to help ensure all Oregon real estate remains afloat. The reason? For one, the sheer […]
New figures from the Regional Multiple Listing Service suggest our current hot real estate market recently transitioned from white to red. No, that’s not wine we’re talking about. Instead, we’ve gone from white hot to red hot, because home supply just increased from a shockingly low 1.2 months to a slightly less alarming 1.8 months. […]
There are many possible words to describe people, places, things and events. A recent shift in Oregon real estate brings to mind the word ‘breathtaking.’ And while that’s a term normally reserved for the Grand Canyon or certain Hollywood starlets, it also conjures the notion of astonishment, breaking fresh ground, entering a new phase, being […]
Recently released housing figures confirm a continued “seller’s market” throughout the greater Portland metro area, which includes Multnomah, Clackamas, Clark, Washington and Yamhill counties. Multiple Market Factors Our sustained strong market is characterized by (1). Low inventory, (2). Short market times and (3). Rising prices. We currently have less than a two month supply of […]
So while greater Salem’s market improvement hasn’t been ‘flashy,’ it is chugging along. This translates into a lower inventory of homes, generally higher prices and shorter market times.
Perhaps even more surprising than a meager 1.6 months of housing backlog is our region’s five straight month trend of lowering home supply.
Oregon homebuyers avoid traditional lenders for many reasons and one mechanism they frequently turn to is known as seller financing.
1.9…1.8…1.7… Curious about those numbers? The ‘What’Those are greater Portland’s dwindling home supply figures over the past three months. Our area would now ‘run out of homes’ in a miniscule 1.7 months. Homesellers may describe this phenomenon as the ‘countdown to ecstasy.’ That’s because a shortage of homes boosts demand for what they’re selling. As […]