Are Portland Housing Prices Going Down?
Many residents of Portland are considering selling their homes. Still, they aren't sure if it's a good time to do so due to the cooling of the housing market in the Portland area. The housing market is expected to cool down until 2022, so it may be advantageous for homeowners looking to sell their properties before prices start doing so.
With the Portland real estate market showing a slower level at which homes for sale are bought, some homeowners will be considering selling their properties. Currently, it is an advantageous time to do so. Each month, more homes are up for sale, ever since May of the last year.
This surplus, combined with the demand over previous years, has caused prices to decrease in value throughout the last months of 2021. It's predicted that median home values will continue lowering through 2022. If you're considering whether or not it's a good time to sell your property in Portland, there are several reasons to do so.
With all signs pointing towards greater access to different properties, sellers now have a good time to take action. As the housing market in Portland shows, markets all around the country will see increased growth in the number of houses up for sale until 2022.
The area's real estate market is expected to continue cooling down throughout this year, with most metropolitan areas showing steady improvement until 2022. Even if you're planning on staying in your current home longer than expected, now may still be an advantageous time to sell if it means purchasing another property with a better layout or more amenities.
If you're thinking of selling now, don't hesitate--reach out now to a homebuyer for a free offer of your home's value. Homeowners are a great way to sell in this situation since they're always seeking to buy and make immediate cash offers for the fair price of the property.
An analysis by Realtor.com predicts that median sale prices in Portland-South Portland will be cooling over 2022 while prices nationwide will increase by only 2.9 percent over the level of 2021. However, the number of home sales in the Portland area is expected to drop by a small margin - 0.2 percent - in 2022. Sales nationwide are expected to increase by 6.6 percent, the analysis says.
As the Portland housing market shows, the growth in the housing market is predicted to be at its coolest in 2022. The lowering of sale prices is projected to affect different points of the Portland Area; not every neighborhood will have a significant price decrease. Home values are expected to continue decreasing around the city at a more even pace.
As they say, nothing ventured, nothing gained. So if you've been considering selling your house in Portland, don't wait any longer. Reach out to a homebuyer who can give you great cash offers for your house and can handle the process themselves. If you're looking to sell, now is a great time to take the first step.
This article was published on 01/15/2022