Nov 2022 - WHAT'S HAPPENING WITH HOME VALUES in Portland, OR & the surrounding cities? 🏡📈🧐
We've seen the "Price Reduced" signs on listings, and the trends show higher Housing Inventory and Days-on-Market, signaling a slower Housing Market. Home Values have got to be going down, right? So far, not yet. They're just rising slower than the prior two years.
Real Estate is a wonderful way to build wealth, but it's not a get-rich-quick scheme. Unfortunately, the hyper-aggressive markets over the last ten years have sent some the wrong message regarding the financial benefits of homeownership. To some, the Housing Market is crashing if:
(a) you list your home, and it doesn't get 30 offers well above list price in 3 days
(b) your home doesn't appreciate 20% every year
The reality is that Real Estate is a long-term investment, and the Housing Market ebbs and flows, but the average annual appreciation should be approximately 4% to 6%.
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