Its still happening big time in the Portland area. As you can see new contracts and closings are outpacing properties coming on the market by a large margin, resulting in a market time of about 1.5 months. We are seeing it in all price ranges, yesterday for instance we had one sell at $240,000 and one well over $1.6 Million. As a long time Realtor I am overjoyed to see so many young families buy homes and lock into low interest rates.

This chart shows the percentage of home ownership has increased dramatically - and just from Q3 of 2019 to end of Q2 in 2020. One thing we know is homeowners upon retirement have a significant greater wealth than renters, and this is going to be much less of a burden on future society. As far back as the Clinton administration the goal was 70% of Americans to be homeowners.

My home of the week is one of the cutest little homes I have listed in a long time. This one hit the market two days ago and is a small one bedroom home in the Cathedral Park area of North Portland. While the house may be only 594 SF its on a what now seems large 5,000SF lot! It's open from 12-2 this Sunday August 2nd. Click the picture for info and address.