After a marked rise in home prices, a recent study called the Case-Shiller Home Price Index suggests home prices for our region are decelerating. Prices are still rising, but at a considerably lower rate than before.
Unlike dips in the past where homeowners were pulled ‘underwater’ and frequently owed more than their property was worth, a potential ‘soft landing’ could actually be good news.
That’s because moderate home price deceleration helps make more sustainable our market gains that began well after the 2007 Great Recession. To be clear, in many areas both locally and nationally, home prices continue to rise. But now it appears Portland’s market trajectory has generally lowered to a more reduced ascent.
The above Regional Multiple Listing Service…
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