Portland Metro Real Estate Sees More Downward Pressure on Sale Prices and Homeowner Equity

The Average Sale Price was Down 2% from the previous week and Down 1.5% vs Last Year at this time.  
Mortgage rates rose to 6.625% for the 30-year fixed (best case scenario) with most lenders over 7%.  The average mortgage rate for the 30-year fixed in February of 2023 was lower at around 6.26%.   
Demand continues to outpace homes newly listed to the market for the 6th straight week.  The number of new purchase agreements signed by buyers and sellers came in at roughly 524, while the number of newly listed homes came in at only about 423.

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