There is a very predictable cycle each year in Portland real estate. There’s the secret hiding in the graph of annual average prices. While there is a lot of volatility in the stock market and government, the real estate market moves slowly.
Each year most of the price gains in real estate in Portland happen from March to July. The rest of the cycle from August to February prices typically drop and then bounce below that summer’s high.
Make no mistake that we are still in a seller’s market but there is a window of time for buyers and investors to lock in what should be the best deals of 2019 between now and March.
It’s also worth noting that the volatility in stocks has driven mortgage rates back below 5% for most borrowers.
While I clearly can’t make any guarantees I’m predicting that prices will rise 3-5% in Portland in 2019 and most of that gain will likely show up from March to July.