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5 Major Things Happening in the Oregon Housing Market Going Into 2023

Did you know that there were a whopping 1,837,079 housing units in Oregon in 2021?

Whether you’re thinking of moving to this great city or you already have some property there, it’s crucial to stay on top of everything that’s going on. The housing market is always fluctuating, so it pays off to keep your ear to the ground.

Are you wondering what you should look out for? Keep reading to learn all about the 5 major things happening in the Oregon housing market going into 2023.

1. Fewer Listings

When it comes to Oregon real estate trends, you can expect to see fewer homes listed for sale. In the past, one could expect just under 5,000 new listings, give or take.

Now, you’ll be lucky to see more than several thousand. This doesn’t mean the market is stagnating. Rather, more people are keeping their homes.

It’s not hard to see how this is a sign of a happier city as a whole.

2. An Increase in Home Sale Prices

Are you wondering what Oregon real estate prices go for? In the past, the median sale price was over half a million dollars. Now that the market is continuing to grow, it’s possible to get around $560,000 for a home or more.

If you don’t want to have your house on the market for weeks or even months on end, then you should say, “sell my house fast.” That way, you can start the next chapter of your life free of baggage and with a thicker wallet.

3. More Fruitful Negotiations

Anyone who has dabbled in Oregon real estate investments will love the fact that negotiations are becoming easier and easier. In the past, many home prices were firm.

With the new year, you’ll have much more wiggle room when it comes to negotiating the prices of various homes. That way, you can get the best deal possible.

4. Higher Mortgage Rates

While it’s a bit too early to tell for sure, it’s possible that mortgage rates will increase next year. This could have a lasting impact on both regular homeowners and Oregon real estate investors.

By preparing for it now, everyone will be much better off if it ends up happening.

5. A Higher Occupancy Rate

Even a single empty apartment could cause a property owner to lose tens of thousands.

Anyone who rents out a home or apartment complex will be glad to learn that the occupancy rate should rise next year.

Are You Ready to Watch the Oregon Housing Market Boom?

Now that you’ve learned all about the 5 major things happening in the Oregon housing market, make sure you put your best foot forward. By staying in the know, your housing market decision will end up being much more successful.

Aside from the Oregon real estate market, our site also covers news and tips relating to finances, hunting, gambling, CBD, and so much more. We post on a regular basis, so it’s worth bookmarking our site. Don’t forget to stop by as often as you can.

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