Whitney Minnich Real Estate and Community Updates

Portland faces prospect of a 'normal' real estate market By Elliot Njus | The Oregonian/OregonLive | Posted December 26, 2018 at 07:00 AM Boom. Bust. Boom.  It's been perhaps two decades since the Portland area's seen a housing market where prices weren't either spiraling into the depths of the housing crash or shooting skyward. So 2018 came as a surprise for homebuyers and sellers. Neither boom nor bust; just slow and steady.  The median home price, at $391,400 in November, according to the Regional Multiple Listing Service, is still climbing but at half the rate of a year ago. Sales have slumped, and houses that might once have sold in a couple of days instead took a couple of weeks.  "I'm trying to tell people that this hasn't been a normal market" in recent years, said Leslie Jones, a managing broker at Re/Max Equity Group in Portland. The slowdown is expected to continue into 2019, according to real estate brokers and ...

Report: Market Could Stabilize as More Homes are Listed September 20, 2018 Existing-home sales remained mostly flat in August, bringing relief to markets following four consecutive months of decreases. Sales gains in the Northeast and Midwest helped to offset downturns in the South and West last month, according to the National Association of REALTORS®’ existing-home sales report, released Thursday. Existing-home sales—which are completed transaction for single-family homes, townhomes, condos, and co-ops—remained at a seasonally adjusted annual rate of 5.34 million in August, the same as July. Sales are 1.5 percent below a year ago, NAR reports. “Strong gains in the Northeast and a moderate uptick in the Midwest helped to balance out any losses in the South and West, halting months of downward momentum,” says Lawrence Yun, NAR’s chief economist. “With inventory stabilizing and modestly rising, buyers appear ready to step back into the market.” Here’s a closer...