Sales Volume Drops Sharply
702 homes were sold in Portland in September, down from 1015 in August. The number of homes sold in the last month dropped sharply due in part to rising interest rates occurring during the normal seasonal slowdown.
Wild cards: Government shutdown affects government insured and funded loans like USDA. Conventional loans are affected by IRS tax reporting verification. Hopefully we’re up and running again soon!
I’m predicting around 600 closed sales in Portland (RMLS areas 141, 142, 143 & 148) in October.
News Feature: On the market: Portland homes priced at $500,000 are selling during the coronavirus crisis
From The Oregonian/Oregonlive | Read the full article here How’s the coronavirus pandemic, plummeting retirement savings and massive layoffs impacting Portland residential real estate? “Things are certainly not business as usual," says...