Nov 2022 - HOUSING SUPPLY vs HOUSING DEMAND for Portland, OR & surrounding cities! 🏡🤼
If you're a home buyer, this is your time. Housing Supply is up, and Housing Demand is down. Basically, a lot of the competition is gone, and you can buy a house for a list price or less.
And while we don't want to get too excited by the month-to-month activity, it is leaning toward Housing Supply going down. Now, this could be due to year-end and holidays, etc., but it may be something to keep an eye on. Housing Demand is down, but not catastrophically down. It's not triple digits down, which means it could spring back, and I feel that it will by February or March, especially if mortgage rates continue to decrease.
As I always say, be ahead of the herd, don't follow it.
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