Everyone keeps saying how the market is great and it's time to sell. Wondering WHY though?
There are TWO main reasons
#1-Inventory levels
There is a very limited amount of inventory in the Portland Metro Area. As a general rule of thumb, anything under 4 is considered a "seller's market" and anything above 6 is considered a "buyer's market". 4-6 is considered a "normal market". This number simply means how many months it would take to run out of homes for sale if no new homes were listed.
#2-Interest Rates
Interest rates have been at historically low levels for a few months now. When rates are lower, the buyer can actually afford more house. So they can spend more for your house now vs when rates are higher.
What this means
Simply put, low inventory levels means LOW competition. Low interest rates means buyers are desperate to find a home before they rise, and you could essentially list your home at a higher price.
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