Welcome to Q1’s rate update! With all the uncertainty in the world, many are asking about the state of the housing market. As we wrap up Q1 2025 and move into spring, here’s a quick overview:
- Housing Market: The market is “Goldilocks” – not too hot, not too cold. New listings are increasing, and net inventory is growing, meaning supply is outpacing demand.
- Home Prices: Home appreciation in Portland is up 3% year-over-year, slightly below the national average of 4%. Prices are rising more gradually compared to previous years.
- Interest Rates: Rates have fluctuated between 6-8% since September 2022, averaging around 7%. Recent tariff announcements caused a spike, but rates are now trending lower again.
- Buyer/Seller Tips: Sellers might consider offering credits or concessions for interest rate buy-downs to attract buyers.
If you have questions or need assistance with housing transitions, feel free to reach out. We’re here to help!