What's Going on with Supply, Demand and Prices in Portland?!

  • The Average Sale Price rose another 2% compared to the previous week and landed 2.2% higher than last year at this time.  Sale prices seem to be staying slightly higher than last year's numbers.
  • The Supply of Homes for buyers to choose from increased another 1% with new listings outpacing last year's number for about 7 weeks straight.  Inventory may be starting to unlock in the metro area.
  • Buyer Demand remained strong.  The number of purchase agreements signed by buyers and sellers rose by 5% over the previous week and topped last year's number by about 12%. 
  • Mortgage Rates remained unchanged from last week's 6.375% for the 30-year fixed mortgage (best case scenario) with most lenders probably just shy of 7%.  

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