Nice Post-Holiday Rebound in Portland Metro Real Estate. More to Follow After the Ice Storm?

The Average Sale Price was up by 6over last week's unusually low number and Up by a Whopping 9.6% over Last Year at this time.  Keep in mind that January of last year had some really low sale prices.  So, it's not difficult to look good by comparison.    
During our first post-holiday week of the New Year, the number of New Purchase Agreements was about Double the Previous Week.  
Due to the snow and ice in the metro area this week, expect some really low numbers in next week's statistics for new purchase agreements signed and homes new to the 'for sale' market.  The week after that should give us a nice rebound, as long as the better weather holds.
Mortgage Rates bounced between about 6.25% and 6.375% - best case scenario for the 30-year fixed mortgage.  The yield on the 10-Year Treasury moved up, slow but steady.  That indicates that we might see rates hit the 6.5% mark in the next few days - with most lenders probably at 7% (plus or minus).  

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