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.
I JUST finished writing a little blog post about how government shutdown affects the mortgage process. HOPEFULLY this will get resolved this week… but for now …. we got this >> http://www.oregonmortgageblog.com/mortgages/how-does-the-government-shutdown-affect-mortgages/