I found this chart very interesting as I have been selling homes now in the Portland, Oregon area since 1988 and other than the recession I have watched as my clients have all seen tremendous appreciation over the years. The attached chart shows the average and median sales prices from the end of 2003 to the end of November, 2024.

Looking at about mid 2007, prices peaked in our area at an average of about $350,000 before they started declining through about mid 2012 where the average hit about $275,000. During that time I helped a lot of sellers with short sales and did some bank repossessions too, but for the vast majority of my clients I tried to help them find a way to stay in their homes because (a) they had to live somewhere and (b) it was only a matter of time before the prices started going back up. While it took longer to turn around than anyone thought, all those clients are sure glad they did! The average price now is at $611,600 - well over double the price of the bottom, and nearly double the price of the previous peak too!

There is an old saying in my industry, "Don't wait to buy real estate, buy real estate and wait".

If you’ve been thinking about that dream home, now’s the time to make it happen. Ready to get started? Reach out to us at your convenience.

There has been a lot of news buzz lately about mortgage rates and where they are going. Experts have weighed in and this chart shows what they are all thinking.

After so much volatility this year, rates are expected to stabilize and ease a bit over the next year — but it all depends on factors like inflation, unemployment, government policies, and the overall economy. Even though experts predict rates will drop a bit, it still may be a bumpy road. But the bottom line is they don't appear to be dropping much past where they are right now, in the mid 6% range.