The Market Is Back! Or Is It?

By
Real Estate Agent with Portland Vancouver Homes

The market is back! Or is it?  Really? 

PortlandVancouverHomes.com

 

Home prices are up, there are buyers creating bidding wars over homes that have just hit the market. Houses are selling for way more than the list price, sometimes in days.  Some times in hours.  

 

So, this means the market is back, right?  

 

Well maybe yes, maybe no.  The market is still be bit off.  Things have changed, but does that mean that the real estate market will hold strong and be healthy? 

 

In the Vancouver, Washington market, our inventory is at it's lowest rate in 20 years.  We have less than 2 months worth of inventory.  That means if all of the houses on the market today sold, in 2 months there would be ZERO homes for sales.  

 

In one of the most popular neighborhoods in Portland, Oregon, the Hawthorne District, homes sell with multiple offers within hours.  

 

Fewer listings are coming on the market. People are now aging in place, not moving into retirement homes.  Multi-generational families are living under the same roof.  Baby-boomers are staying in the house they raised the kids in and adding a third bay to garage to store their toys.  Millennial’s want to live in the city, no car, no house, no mortgage.  What is it that will spark homeowners to move? 

 

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Denice Neddo is a licensed Realtor who specializes in Clark County, Washington and also works both Clark County Washington and Multnomah County, in Oregon including the cities of Vancouver, Ridgefield, Camas, Battle Ground, Brush Prairie, Hockinson, Salmon Creek, Felida, and inner city Metro Portland. Her favorite Portland neighborhoods include Belmont, Brentwood-Darlington, Brooklyn, Buckman, Creston, Eastmoreland, Hawthorne, Hosford-Abernethy, Kerns, Laurelhurst, Mount Tabor, Reed, Richmond, Sellwood, Alameda, Alberta Arts District, Beaumont-Wilshire, Grant Park, Hollywood, Irvington, Sullivan's Gulch, Vernon and Woodlawn.  

All information contained in these posts is copyrighted and cannot be used without prior written approval authorization from the author. If you are looking for an outstanding agent please give Denice a call she would love to help you with all of your real estate needs.

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Comments (1)

Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

With the low inventory Denice Thompson Neddo , market is up for sure....

Jan 06, 2016 02:09 PM