This spring has been super active in the Real Estate market, and I am sure all of you have noticed that buying a house right now can lead to a scramble to out-bid other buyers – especially in Portland.
We are seeing a huge increase of interest in houses, which leads to competition. Something I was talking with one of my buyers about recently was: what is going on with the market and why are there so many people looking to buy houses right now?
Well one of the big reasons is that there are more jobs available. Millennials, who graduated in a time of recession, are now landing career jobs and are able to afford loans to buy their first home. Not to mention there is financial help (such as grants) for new home buyers.
Another big reason for increased demand would be that there are more buyers! Those who went through bankruptcy during the recession have resolved their debt and are able to apply for loans again. Which is wonderful news.
And lastly: Portland is still one of the most popular cities to move too. According to CNN, as of January 4th, Oregon remains one of the most popular places for people to move to (Article can be found here: http://money.cnn.com/2016/01/04/real_estate/oregon-most-popular-moving-states-2015/).
There are a myriad of other reasons as to why there is so much demand, but I feel that these three reasons are some of the larger reasons as to what is going on with the increased demand.
Anyway, thank you all for reading. And as always if you have any questions regarding Real Estate in the Portland Metropolitan area, feel free to contact us.