Oregon May Real Estate Market Update 2024

The real estate market in the Portland Oregon metro area continues to be competitive even as rates neared mid 7's a month ago. Transactions are up but not by much. We're still well below the volume we saw in 2020-2021. And yet we still see multiple offer situations and homes going under contract in just a few days. As I type this, rates just went under 7 (6.99) for the first time this quarter. Could this be the top as we make our way back down to lower rates? We've seen rates peak around fall over the past few years, so this decline would be comparatively early. Expect the market to stay competitive for buyers throughout 2024.
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Seth Marchant - REALTOR®, OR Broker, License no. 201242735
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[@davidwysocki1004]

Thanks, Seth, for your latest video on Oregon's real estate market. Would you provide me with links to any recent videos you have posted on the real estate market in
Vancouver, Washington? Thanks in advance.

[@livinginoregon]

Hi David, I don't have a video but do have a report for you! www.rmlsweb.com/v2/public2/loadfile.asp?id=5880

[@davidwysocki1004]

@@livinginoregon--Thanks, Seth!

[@zstrizzel]

I feel like above-average inflation has left some sellers expecting much higher prices at a time when buyers are put-off by interest rates, thus, leading to a price disconnect + certain houses sitting on the market for long time.

[@livinginoregon]

We're definitely seeing some of this.