1.)Interest Rates are on the rise.
With Interest Rates on the rise and not coming back down, buyers begin to lose their buying power. Because of this fear, we will continue to see more and more buyers who were on the fence of buying, start to actually BUY! This means as the year goes on and interest rates continue to rise, buying competition will only become worse!
2.)Inventory is almost non existent.
With less and less homes available on market we continue to see competition rise rapidly to get into homes! As we know, more and more buyers jump into the market as the year goes on, thus creating a mess of multiple offer situations and minimal days on market to make a move. Bottom line, the further we move into the year, the more competition every buyer will have to deal with!
3.)Prices Will Continue to Soar.
Because of the interest rates, the influx of buyers in the market, and low inventory, prices will continue to soar! You add these factors on top of the amount of people who are moving to the Portland Metro in the next 5 years and you will continue to get the result of climbing home prices.
Have you been thinking of buying or selling?
Keep the leverage you have of being willing to make a move in the beginning of the year.
Call me today at 541-430-5755!