If you’ve been thinking about buying Portland Oregon Real
Estate you know that our Real Estate market can be described as a
“sellers-market” for well over one year now.
Why has the Portland Oregon Real Estate market favored
sellers instead of buyers? There are a variety of reasons including price
appreciation, lack of inventory, tight credit regulations and low mortgage
interest rates.
Buyers have had a tough time buying Real Estate but it’s
going to get better soon, here’s why:
Mortgage Interest
Rates Will Rise
A recent reports from Federal Reserve Chairwoman Janet
Yellen indicates that mortgage interest rates are predicted to increase in the
coming months.
Rising mortgage interest rates means there could be fewer
buyers on the Real Estate market and more sellers who want to sell their homes
before rates go up even more.
Many banks are also loosening their credit standards so it’s
getting easier for buyers to obtain access to credit.
Inventory Is
Increasing
Another positive sign for buyers that the Real Estate market
is getting better is that inventory is increasing across the United States.
As of July 2015 listings have increased by close to 5
percent nationwide.
Over the last 3 months new construction has increased as
well since permits for single family homes, which are up by close to 10 percent in the
last year alone.
More Buyers Are
Finding the RIGHT Homes
Recent statics from Realtor.com show that many home buyers
are now finding the homes they are searching for and surveys from the
Realtor.com website also show that fewer buyers are responding that they are
unable to find the homes that they wanted.
Fall Will Be a Great
Time to Buy
Last of all, buyers who have been searching for Portland
Oregon Real Estate can expect the fall to be a great time to buy homes with
interest rates still being favorable and traditionally less competition. Families with school age children usually slow down
their home buying activities in the fall and that means fewer competitors
searching for homes than other times of the year.
Buy Portland Oregon
Real Estate
To learn more about the Portland Oregon Real Estate market,
or to view homes for sale, contact EquityPoint Real Estate today by calling us
at (503) 595-8800.