Market Trend Reports for the Portland, Oregon and Vancouver, Washington Metropolitan Area

Market Trends Report for Vancouver, Washington and Portland, Oregon Areas  

January Market Trends Report Using December reporting period data, the most recent data available.
 

Market Trend:  Prices Declining, Slight Increase in Sales and Increased Affordability! December data showed a decline in inventory and sales increased; 6% of homes were sold in Portland compared to 5% in November and 5% sold in Vancouver compared to 4% in November.  According to John Burns Real Estate Consulting, the area affordability barometer is now 5.7 compared to 7.0 in November. A <5 rating is considered affordable. Price declines and historically low interest rates assisted in the improvement in affordability.

Type of Market: Strong Buyers Market in all Price Ranges
(A Year or More of Home Inventory to Choose from....21,328 Homes on the Market for Sale!!)

• Less than 6 months of Inventory is considered a Sellers' Market
• More than 6 months of Inventory is considered a Buyers' Market
• The closer to 6 months of Inventory the more neutral a market it is.

*Data is from HomeQuest database and includes single residences, condos, and attached homes.

    Loan Environment: Interest rates continue to be low, 5.0% as of this writing and there are 3.5% down loans available from FHA. .   

Sellers, homes that present the home's best features, that are priced at market prices, and that are promoted in a way that appeals to buyers, sell!  

Buyers, if you are planning to stay in your home for 3-5 years, if you have good credit, and if you have 3-5% to put down towards your loan and closing costs, it is a great time to buy.       

 To discuss taking advantage of this market or to get info and/or attend a Home Buyer Seminar on February 21, 2009, Call or Email me!