Worried about Portland's Real Estate Market? Here's the Good and the Bad

  • The Average Sale Price was Up 4% compared to the previous week.  It also ended up 4.4% Higher than last year at this time, which is in-line with the recent year-over-year numbers we've been seeing recently.  

  • The mortgage yo-yo continues.  Rates slid down to a best case scenario of 6.375% for the 30-year fixed this week, but the May jobs report came out on Friday with almost 100,000 more jobs than expected.  This sent the 10-Year Treasury and mortgage rates up, with the 30-year fixed landing at about 6.5% - 6.75%. Next week the Fed Board is meeting, but no changes in the Fed's interest rates are expected.  

  • Buyer Demand was down but the number of purchase agreements signed by buyers and sellers has been outpacing last year's numbers for 5 weeks straight.  Home Viewings (lockbox opens) beat out last year's number (just barely) for the 2nd week straight.  

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