Portland Real Estate Stumbles into the New Year?

  • The Average Sale Price was down by 10over last week's high figure, but both figures seemed out of line with what we've been seeing over the past couple months.  The reality is probably somewhere in the middle.  See the blue graph below.

  • During the first week of the new year (another holiday week) the number of New Purchase Agreements was down by 8% vs last year at this time.  Demand has been higher for 4 of the past 6 weeks, but I still think we need a couple weeks of January numbers to see where the market might be headed.

  • Mortgage Rates landed at about 6.25% - best case scenario for the 30-year fixed mortgage.  The yield on the 10-Year Treasury did some give and take this week.  So, we ended up with no strong indication of where rates might be headed.

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