IS INCREASED HOUSING MARKET ACTIVITY AFFECTING HOME SALES in Portland, OR & beyond? 🏡🧐
We can see that mortgage interest rates are high, Housing Inventory is up and down, and the Housing Market is speeding up. So does this increased Housing Market activity affect the actual number of home sales in Portland, Oregon, and the surrounding cities?
Compared to 2019 to 2022, the Homes Sold trend in 2023 appears lower.
When we look at the annual totals, we can see that the 2733 homes sold YTD in 2023 are:
941 homes less than in 2019
1,355 homes less than in 2020
1,564 homes less than in 2021
1,361 homes less than in 2022
So what does this tell us? The trends and being out in the market tell me the Housing Market is gaining momentum, and the window for home buyers to purchase a home at or below list price with no competition may be closing for good. But the total number of Homes Sold in 2023 will remain comparatively lower due to the slow start.
See Homes for Sale by Location - No need to search. Results ready-to-go! 🏡🙋♀️
See Homes for Sale by Price - No need to search. Results ready-to-go! 🏡🙋♀️
This video is part of a new series called Trend Watch, where I create a set of videos featuring the most critical Housing Market trends and run them every month so that you can understand how trends work and watch the changes month by month.
I hope you find this information helpful.
Please remember I'm always here for any questions. 😃
Take care, Sheryl