October 2022 Market Report

Slowing Housing Market

The market has been cooling over time and prices plateaued for a while. It is becoming more of a balanced market, rather than the strong seller’s market that we’ve experienced for the last several years.

Here is what has been happening since the beginning of the pandemic and where we are now:

Median Prices:

Median Days On Market

Inventory

Price Per Square Foot

Price Decreases

Happy Fall from Jen Lundstrom!

I Love My Clients!

Thank you Eric, for this wonderful review!

"Jen was an absolute dream to work with! She's extremely personable, honest, patient, local and passionate. My fiance and I were first-time home buyers with infinite questions and concerns (most of which were probably outside her wheelhouse), and Jen fielded them all like a pro and in record time. Her knowledge and expertise on the home-buying process, the financial piece, and structural acumen of properties were quite impressive and I can't imagine anyone making the experience any more enjoyable and comforting. We've already recommended her to a handful of friends in the area looking to buy a home and will continue to do so! Thanks for everything, Jen!"

Eric D
NE Portland, OR

DESIGN PORTLAND Calendar

Check out the Design Portland Event Calendar. It’s your “year-round source for what’s happening in our city’s design community, across a range of formats, design practices, and event types.”

REconomy Podcast

Is the Housing Market Heading for a Crash?

In this episode of the REconomy podcast from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi explain why today’s housing market is unlike the housing market that preceded the Great Recession and why we’re unlikely to see a housing market crash anytime soon.

“The housing sector entered this recession under built, not over built, like last time in 2009, while housing demand has outstripped supply. In fact, in 2019, the last full year in which we had comprehensive data, over 1.3 million new households were formed, while only 923,000 new housing units were produced. That's a shortage of almost half a million housing units. Prior to 2009, the opposite was true, housing supply was significantly outpacing demand. The supply and demand imbalance is one of the other reasons for the rapid house price appreciation today.” – Mark Fleming, chief economist at First American

CLICK HERE to hear this episode of the REconomy Podcast!

Neighbor's Realty Announcement

It's a new year and I'm with an amazing new company, Neighbor's Realty, where "We aim to be good corporate citizens by sharing profits with local and national organizations that reflect the values of housing equality, racial and social justice, and protecting our environment.”

Please visit our Equity & Inclusion page, or our Giving Accountability Page. We’re listening and encourage feedback. https://www.workwithneighbors.com/