Our State of the Market Address (spoiler alert, less drama than the State of the Union!) What does the Portland Area real estate market look like this year?
- The economy is doing well and consumer confidence is high
- Interest rates are well below 4% and are expected to stay that way. We are at or near the lowest rates historical. Did you know the average interest rate over the past 40 years is 8%? We are currently at less than half that rate today.
- Low inventory. That means there are not enough homes to meet demand and if you remember from high school economics, low supply means greater demand.
Overall, a very positive outlook and similar to 2019. Please share your thoughts and let us know if you have friends or family we can help with experienced advice, we’ll take great care of them for you!