The latest RMLS report is out and inventory has dropped again! Here to talk about the local real estate market is our real estate expert Nick Krautter with Keller Williams Real Estate and sellpdx.com
Q. The inventory dropped again – what does this mean for buyers and sellers here in Portland?
A. The low inventory means prices will keep going up and competition for homes new on the market will be strong. Most sellers will be able to get close to their list price if priced right.
Q. What about towns outside of Portland, how are they doing right now?
A. Gresham is at 4 months, Happy Valley is stable at 6 months, Beaverton is a seller’s market at 3 months, and Vancouver is strong at 4.5 months. These are all seller’s markets except for Happy Valley which is balanced.
Q. What will the new QE3 mean for real estate?
A. It will likely mean that because the Fed is buying $40 Billion a month in mortgage backed securities that interest rates will drop again. We might see 3% interest rates soon.