The latest numbers are out and the MLS report (Click on the image on the right to see the entire seven page PDF) shows continued increase in prices in the Portland area, albeit some slight slowing of the length of time it takes to sell a home with the "inventory in months" now at 1.1 months which is up from about .8 months this spring through summer. Note, the average time for a home to sell is still extremely low at 24 days, up one since last month. The inventory in months is calculated by dividing the active listings at the end of the month by the closed sales for the same month.

I don't have to tell you the whole world has changed, and especially what people want and need in a house. Things that weren't important before like homes with many rooms are now in huge demand. In fact a study released today shows that 48% of home buyers now want a home office and 43% want two! In this video we talk about what's changed since 2019 and what home expectations are going forward. We also talk about things you can do to your house to make it more compatible with "the new normal" Love to know what you think!

Most people think "I cant buy a house because I don't have the needed 20% to put down". Yes, this was the reality for many years but in the last 10-20 years that's changed significantly. If you have good credit, homes can easily be purchased for as little as 3.5% down and in some cases such as for veterans (VA loans) and in rural areas, USDA loans for just $1 down! As you can see by this chart it varies with age, which makes sense as the older someone is the better chance there is that person has equity to put into the next house. But as you can see the younger crowd puts down about 6% with ALL buyers averaging about 12% - not 20!

As many of you know, Rob has been a top selling Portland area Realtor for nearly 33 years now. Many of you don't know that I have been also licensed in California for nearly nine years to help my Portland area clients buy and sell homes and condominiums in the Palm Springs area cities. These cities include Rancho Mirage, Palm Desert, Indio, La Quinta, Indian Wells and Cathedra, Bermuda Dunes and Cathedral City. If you click on the image on the image here it will take you to a full multi page report from CDAR (California Desert Association of Realtors) talking about prices of homes and condos in the entire Coachella Valley. You can also scroll down below to search for homes in the valley. Note, I also have amazing top Realtor contacts in other desert areas such as Phoenix, Tucson and all over North America if you want to look anywhere.

Thanks for checking out this newsletter, and thanks for supporting our real estate team for all these years. Many of you have reached out to me to talk about your real estate concerns. I love catching up with my clients and welcome your calls. Stay safe , ROB LEVY and CAITY ABOUAF