Market Update
Market Update: Have We Hit the Bottom?
It’s been an interesting season in real estate! Across the country, and right here in the Portland area, the number of homes selling has slowed to levels we haven’t seen since 2008–2009.
But before you worry, this time is very different. Back then, it was a lending crisis. Today, it’s simply an affordability challenge. Many homeowners are “locked in” to their ultra-low pandemic mortgage rates, so fewer are choosing to move. At the same time, higher interest rates have kept some buyers on the sidelines.
The result? A quieter market, but also one that’s starting to rebalance.
✨ For buyers: There’s more breathing room. Less competition, longer days on market, and opportunities to negotiate.
🏡 For sellers: Strategic pricing and presentation matter more than ever. Homes that show well and are priced right are still getting attention.
📈 Looking ahead: As prices adjust and affordability improves, experts predict we could see activity pick up again by 2026.
✨ For buyers: There’s more breathing room. Less competition, longer days on market, and opportunities to negotiate.
🏡 For sellers: Strategic pricing and presentation matter more than ever. Homes that show well and are priced right are still getting attention.
📈 Looking ahead: As prices adjust and affordability improves, experts predict we could see activity pick up again by 2026.
So while it’s been a slower chapter, it’s also an important one — creating space for the next wave of opportunity.
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