Portland Real Estate Seeing Stronger Buyer Demand and Sale Prices, but Rates are Back on the Rise.

The Average Sale Price was up by 7.7over last year at this time.  That feels a little anomalous for the numbers we've been seeing recently and for the time of year. I'd still like to see a couple more weeks land this high before I call this a new trend.
The number for New Purchase Agreements was up by 16% over last year's numbers.  That's now 4 of the last 5 weeks that we've seen higher buyer demand.  That's a big turn from the norm in 2023, but I'd still like to see a couple more weeks of (non holiday) numbers like this before I get comfortable with this new trend.
Mortgage Rates Rose from 6.125% to 6.375% (best case scenario) for the 30-year fixed in just a couple days.  Events on the stock market have been driving  the yield on the 10-Year Treasury up and indicate that we might see more increases in mortgage rates - at least for now.  It's a volatile mortgage market with big shifts from week-to-week.

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