In contrast to the abnormal housing market the Portland area has seen in the past year, many think the area is headed for a more ‘normal’ market. The Oregonian’s Elliot Njus outlines what that will mean for buyers and sellers.
Elliot Njus | The Oregonian
Boom. Bust. Boom. It’s been perhaps two decades since the Portland area’s seen a housing market where prices weren’t either spiraling into the depths of the housing crash or shooting skyward.
So 2018 came as a surprise for homebuyers and sellers. Neither boom nor bust; just slow and steady.
The median home price, at $391,400 in November, according to the Regional Multiple Listing Service, is still climbing but at half the rate of a year ago. Sales have slumped, and houses that might once have sold in a couple of days instead took a couple of weeks.
To read the full story, click here: Portland faces prospect of a ‘normal’ real estate market