We are well into the buying season this time of year, and there are always different market forces that help shape what we will see in the market next year. This year’s real estate market both locally and nationally, are being shaped chiefly by low inventory, low interest rates, and increased sales volume compared to past years. But what we are seeing that’s interesting is how technology, regulation, and speculative investors are changing what we would normally see from a market like this.
Investors Buying More Real Estate than Ever
Big private-equity firms, real-estate speculators and others that buy properties comprised more than 11% of U.S. home purchasers in 2018, according to data released on Thursday. With home sales volume and prices finally settling, what does that mean for the average buyer?
Portland Ranks #8 on Best Places to Live Index
The Best Places to Live list took into consideration affordability, quality of life, job market, median annual salary, quality of education, average commute time and more to find the best metro areas for families in the country.
Housing Inventory Remains at Historic Lows
Total existing home sales– completed transactions that include single-family homes, townhomes, condominiums and co-ops – climbed 2.5% from April to a seasonally adjusted rate of 5.34 million in May.
Is Single Family Zoning Over in Oregon?
In an effort to deal with the housing shortage, House Bill 2001 would allow duplexes, triplexes, fourplexes and “cottage clusters” on land previously reserved for family houses in cities with more than 25,000 residents, as well as smaller cities in the Portland metro area. Cities with at least 10,000 residents would be required to allow duplexes in single-family zones.
After Home Sales Surge, Millennials Have Some Regrets
Millennial and Generation Z homeowners tend to think their mortgage payments and interest rates are too high and have more regrets than older home buyers about the types of mortgages they have. Does that mean we’re about to see some market churn?
Falling Mortgage Rates Could Heat Up Home Prices this Summer
Home price gains had been shrinking since last summer, when rates rose sharply, but are now making a U-turn with rates falling pretty steadily since April. Lower interest rates therefore mean even more competition for entry-level buyers. On the higher end, homes are more plentiful, but demand is far lower.
Are You Thinking about Resale Before You Fixer Upper?
The era of real estate-focused reality television is encouraging too many homeowners to put aesthetics before function in their remodeling projects, industry experts note. Another remodel problem homeowners overlook that can derail a sale? Getting permits for the work you do.