Are you thinking about moving to Portland Oregon? Portland Oregon Real Estate Crisis is here, and it's affecting everyone. In this video, I'll break down the affordability & interest rate challenges that are creating a "perfect storm" in the Portland Oregon homes market.
We're seeing rapid home price appreciation – houses that were $500,000 a few years ago are now hitting $700,000. But with rising interest rates, these homes are becoming less affordable for many buyers. It's a tricky situation where high prices and high-interest rates are pricing out potential homeowners.
New construction homes are becoming more attractive because builders are offering incentives like interest rate buy-downs. This makes them more appealing compared to resale homes. However, there’s a twist: homes priced between $700,000 to $950,000 are seeing fewer buyers and more inventory sitting unsold. While luxury homes above $1.5 million are still selling, the general market is experiencing more sale failures and price reductions.
I also discuss how these dynamics create a weird market and emphasize the importance of staying informed about the microeconomic trends in specific neighborhoods. Whether you're buying or selling, it's crucial to understand what's happening right now in the Portland Oregon real estate crisis.
Stay tuned to get all the insights and be prepared for this shifting market. Don't forget to like, comment, and subscribe for more updates!
If you’re thinking about moving to Portland Oregon be sure to give me a call, shoot me a text, send me an email, or schedule a Zoom call. I’d love to help you make a smooth move to Portland Oregon!
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00:00 - Intro to Portland Oregon Real Estate Crisis: Affordability & Interest Rate Challenges
01:04 - Portland Oregon Real Estate Market Overview
02:11 - Excess of Equity in Portland Oregon Real Estate
04:44 - Pending Sales in the Portland Oregon Real Estate Market
07:49 - Chasing the Portland OR Real Estate Market Down
08:18 - Market Softening in Portland OR Real Estate
10:01 - Sale Fails in Portland Oregon Real Estate
12:56 - Low Inventory in the Portland Oregon Real Estate Market
13:24 - Preserving Pricing in Portland Oregon Real Estate
20:00 - Wrap Up to Portland Oregon Real Estate Crisis: Affordability & Interest Rate Challenges
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🤔Thinking of Moving to Portland Oregon?
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