The Real Estate Market in the Vancouver WA / Portland OR region has been heating up!
The graphic below is a weekly snapshot provided by our primary MLS - RMLS, and is heavily weighted by the activity in the largest communities in the Portland and Vancouver areas for the time period 5/26/2023 to 6/1/2023:
This week's key elements are all showing a Rising Real Estate Market; and is what we typically see this time of year.
However, in our opinion this is still not a "Normal" market, as we have home loan / mortgage rates in the low 7% range that is making it much harder for first-time buyers to enter the market; and it also makes it harder for existing home owners (that currently have lower-rate home loans) to move within this market. To be sure the effect is more than 1/3rd fewer home sales than last year!
If you are thinking of selling your home, especially if you have a large amount of equity, please get in contact with us and we'll explore your options.
Comments(2)