After several years of cutthroat real estate controversy, could it be that Portland’s housing market is finally coming down from a whirlwind of development and skyrocketing rates?
Is Portland’s Housing Inventory Finally Normalizing?
Experts are saying that all signs point to yes.
Even though the metro area’s housing market has been remarkably hot over the past several years, listings are no longer receiving the clamor of interest and multiple offers that have recently defined the Portland market.
KATU spoke to realtor Rick Sadle of The Sadle Home Selling Team who says the housing forecast for 2018 is decidedly mixed. “There’s some houses available, not very many; we continue to have an inventory shortage here in Portland, especially right here in Portland proper.” “With the amount of equity and appreciation that people have built, we’re back beyond where we were in 2007 and 2008,” he said. “So you’d think people would be taking that equity and moving now. But it’s just not happening as much.”
“So here’s the good news,” Sadle said. “This last year, six months ago, if we would have multiple offers on a property we would have 20 multiple offers. Nowadays it’s more like two or three, so it’s easing a little in terms of demand.”
Stonebridge Mortgage Group can help you with your real estate loans and other mortgage solutions, both residential and commercial. We serve the greater Portland area and are located in Gresham, Oregon. Visit us in historic Downtown Gresham today to learn more about our mortgage services.
Call us today at 503.661.5580