Portland Real Estate Prices Show Continued Resilience Despite Higher Interest Rates
The Average Sale Price Rose Another 3% vs the previous week and Landed 0.5% LowerThan the same time Last Year.
The Supply of Homes available to purchase Increased by 4%, New Listings Increased by 4% vs the previous week, but remained 27% Lower than the same time Last Year.
Interest Rates Remained relatively High this week (6.5% to more than 7.0% for the 30-year fixed), which could start to stifle the number of new contracts and average sale price going forward - at least until rates start to recede again.
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