New Real Estate Market Report for Portland-Metro areas

The most recent Market Action Report has been published. Read Randy McCreith’s analysis and view or download the January Market Action Report.

Here is a snippet of Randy’s analysis:

For over a year now, the sales numbers for the Portland metropolitan area have continued to improve each month, although the progress is slow. Properties have not been this affordable since 2004, prices on average are at 2005 levels, and the numbers of sales continues to rise. Inventories have reduced significantly.

One year ago we began the climb out of the pit created by the financial melt-down of late 2008. Pending and closed sales have improved 25-34% since one year ago. The drop in closed sales from December and the dramatic increase in inventory since last month reflect normal seasonal activity. There was low sales activity in December and in January people put their properties on the market with the hope of selling (and buying) during this year. Continued high figures for ‘days on market’ have conditioned sellers to list their properties sooner rather than later.

Forbes Magazine Encourages Portland-Area Renters to Buy

In a recent Forbes magazine study, Portland was named one of the top 10 cities in the nation where it is smarter to buy than rent. Market conditions are such that now is a particularly good time for some renters to become homeowners.

To rank the cities, Forbes computed the premium to buy—the spread between what a consumer would spend to rent and what they would pay for a mortgage—and also identified locales where economists predict home prices will go up the most over the next five years.

Continue reading “Forbes Magazine Encourages Portland-Area Renters to Buy”