Is Now a Good Time to Buy A Home in Portland?

Why wait? Interest rates are still low, a lot of people are busy with the Holidays. You could be paying 3 more months in rent and not have to put so much of your savings out at once; however, 3 months of rent could be $3,000 for some, $6,000 for others, that could be your down payment on your home, or closing costs for that matter. YOUR HOME, your own asset, that you can decorate and design how you want and when you move out you will most likely reap the benefits of what you did. In a rental, the rental goes back to the owner and they will re-rent it. I have never heard of a scenario where a landlord has given the tenant money for painting a home or doing improvements such as cleaning the yard. Maybe some discounted rent. In the years I rented (yes I rented once upon a time), we did yard work, deep cleaning, and still, the landlord took most of our deposit. It's not the same when you purchase.

Inventory is low, but no lower than it was this and last year, and less buyers are looking during this time. The holidays are a time when most people are busy with their families or saving for a family trip and/or gifts. Why not take advantage of this opportunity? There are 1,129 active listings on the market in the city of Portland. A month ago there was 1.7 months of inventory and 752 new listings as well as 549 sold listings for a total of 931 listings on the market. There are even more listings on the market today.

If you are moving from out of state, you will find that the prices in Portland are still better than areas such as New York, California, Seattle/Bellevue Washington, etc. Read about the most expensive housing markets here. For all homes of the market in the Portland area or to search for Portland homes click here.