The Average Sale Price Falters a Bit, but Lower Mortgage Rates & Good Weather May Help Things Along

  • The Average Sale Price lands 3% Lower than the previous week.  That's after a couple weeks in the +4% range.  Compared to last year at this time, the average sale price was 0.6% lower.  
  • Mortgage rates started a downward slide last week, landing at 6.25% (best case scenario) for the 30-year fixed on Friday morning.  The yield on the 10-year treasury continues to creep down, and mortgage rates may follow suit.       
  • In a more typical (non-frenzy) Portland market, we usually watch for a nice long stretch of sunny weather to really kick our Spring buying season into gear, and we may have that this week.  We'll see if buyer demand picks up as a result.

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