Home prices still on the rise in Portland but slowing down

by | Nov 28, 2018 | Market Reports

Home prices have been on the rise in Portland since early 2012. From 2012 to 2018 prices have come close to doubling and that is a pace that is not sustainable. The median home price in Portland is now $392,500 according to RMLS.

The latest Case/Shiller report shows Portland and the rest of the US starting to cool off a bit. Currently prices are up 5.1% which is still above the long term average of 3% appreciation per year. This slow down coincides with interest rates rising to just under 5% which, along with rising prices, is keeping some buyers on the sidelines.

Here’s a great article on the report and the Portland real estate market: Oregonian Article

Another new factor that has some buyers waiting is the Portland rental market which is seeing lower rents and higher vacancy.

 

 

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