I just went to an economic forecast summit in Portland. There are many forecasts on the Horizon. The Pacific NW, especially our Portland/Metro, is expected to stay hot in 2017 (See below for Stats). Before I get to them, I will just tell you right away…the real estate market looks solid, and strong through the second quarter of 2018 .That is really good news! Another point I’d like to share that was brought up was that we are not in a bubble, nor are we even close to another bubble. That means we have a clear road ahead of us for the next 1 1/2 years.
A few of the projections are:
- Interest rate expected to be raised 2 times in 2017.
- Job growth is expected at at least 3.5% in 2017.
- Unemployemnt is hovering at 4.6% and hopefully will reduce further.
- Appreciation is expected to be a solid and sustainable 3.5%-5%. This will probably be a little higher this year in Portland/Metro in many neighborhoods-Call me for info on yours.
- The median age of first time homebuyer in 2017 is 32 years. The average age of repeat homebuyers (home seller) is 36years-52 years of ages in 2017.
- Another unique and interesting forecast was that there is expected to be 1/2 less cars on the road by 2030. This is expected to decrease due to the insurgance of “self driving” cars and urban dense living.
Thanks to WFG and Pat Stone (President and CEO Williston Financial Group) for the wonderful class and information on our coming year. It looks pretty darn sunny!! Call me and lets get you moving!! Its the perfect year for you to make the move you have been waiting on.
Five Star award recipient 2011-2017 honoring the top 7% of real estate professionals in Oregon.
IT’S A GOOD LIFE!!
Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, MASTERS CIRCLE
Diversity Specialist, HOWNW, CSA-Certified Staging Agent
Oregon First, Realtors, Direct 503.380.9634
View ALL, current, available Houses on the market go to my website.
Licensed in the State of Oregon
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