Welcome to 2024! Hopefully the ice and snow is behind us and we can dive into all things real estate.
The Oregon Real Estate market remains fairly strong, and buyers and sellers have, overall, adjusted to higher interest rates. That being said, we are on a downward trajectory and while I do not believe we will get back to historically low 2020/2021/2022 interest rates, we are seeing more buyer activity due to recent interest rates improvements.
As cooler weather is still with us, the cyclical lull of fall and winter sales in Oregon is in full effect — typical for the Pacific Northwest. We’ve been doing a supply-and-demand dance for a while. The good news? Signs of improvement are popping up as more homes are hitting the market. Giddy up!
I truly believe we will see a significant uptick in real estate transactions in 2024 vs. 2023.
Now a fresh, new year is upon us. Let’s harness our positive energy and work to continue this upward trend!
Actionable Advice for Oregon Agents:
Track Interest Rates
Stay informed about interest rates and what is happening in the market. Your trusted lender is an invaluable resource to help you educate your clients and guide them through the rocky market.
Knowledge is power. Arm your clients with valuable information — including market trends, insights and data — anywhere that you connect with them, including on your socials.
Price Homes Accordingly
New listings will be key in the upcoming spring months. Price homes well, and you will attract multiple offers.
Engage Your Community
Think of creative and cost-effective ways to interact with your community and demonstrate your local real estate expertise so you’re the one they come to when it’s time to buy or sell.
If you have any questions or concerns, please do not hesitate to reach out. I’m only a call or text away: 503-267-7202.