PORTLAND OREGON REAL ESTATE MARKET UPDATE (September 2018)


Are you wondering what’s going on in the local
metro Portland real estate market? Watch this video and you will find out what’s
really going on today. For the best real estate and home selling
tips and advice, make sure that you subscribe to our channel down below. There’s a little bell right next to it, hit
that bell, that way you’re notified each and every week as we post new videos. Cocktail and party season is almost upon us. You probably need some ammunition and some
information to have really fun, cool and witty conversations. Well, you’ve come to the right place! We are going to give you an idea of what is
really going on in the real estate market right now, today. I’m going to give you the big highlights. That way you are informed, you’re educated,
you can make an educated decision based off real life, current information. The trend that I’m seeing in the real estate
industry right now is that inventory has been rising all year. Almost every single month this year we’ve
seen highs for year over year results. In July number of months of inventory was
a 2.4 months. That is the highest number of months inventory
for real estate in the metro Portland market than we’ve seen in the past 3 years! Folks. The market is changing. It’s changing before our eyes, right now. If you just think about traditional real estate
cycles, we are at the end of this upward tend. Typically the market will go up for approximately
7 years. Right now we are at about 10 year mark. For the past 10 years the market has been
going up. I don’t know if you’ve heard this before but
what goes up must come down. We are preparing ourselves for a shift in
the market. Over the past 12 months the home appreciation
has been approximately 6%. We’re still seeing homes appreciate. But what’s going to happen moving forward? That’s typically the question that most people
are asking. Inventory levels are increasing, listings
coming on the markets are increasing, pending sales are decreasing, and closed sales are
decreasing as well. That is a true sign that the market is shifting. The market is talking to us. Couple things just in our business that we’re
also seeing is cancellation rates. We’re helping a buyer find a home. They find a home, we get under contract and for one reason or another, that home cancels. Buyers are really starting to push back a
little bit more than what I’ve seen in past years. The pendulum is starting to swing. Buyers are in a little bit better position. On the flip side of that, the seller’s mindset
is still in such a place, that they think that the market is awesome. We’re having two worlds collide. On the one hand buyers are wanting more, sellers
are wanting to give less, they are butting heads, and they are separating because of
that. Hopefully that gives you a good sense for
what’s truly happening in the real estate market, right now, today. If you like this video make sure that you
hit that like button down below. Leave us any comments, are there any specific
questions that you have about the real estate market that are just on the top of your mind? We would love to provide you with the information
that you need to make an educated decision on what the best move is for you, moving forward. Also, if you like this video, make sure that
you share this video with your friends. Don’t forget to subscribe, “ding” that bell. Have a great day, Cheers.

One Reply to “PORTLAND OREGON REAL ESTATE MARKET UPDATE (September 2018)”

  1. Thanks for watching! Are there any specific questions that you have about the real estate market that are on the top of your mind?

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