It was just over a decade ago when all of us were hit by the abrupt effects of the Great Recession. If you owned a home at the time, you may instantly recall the state of panic and uncertainty that came with the unfortunate turn of the economy in 2008.
But 11 years later, those things were left behind. From the expensive East Coast to the prolific Bay Area, the housing market has regained its momentum to the point where it is seeing an increase in prices, a shortage of inventory, and an overall trend of interest by new homebuyers. All in all, things are looking up. That is why it might not be a surprise for you to learn that the Oregon housing market statistics also have positive news to report.
Going Straight Up
As you might remember, the Beaver State was one of the few places that continued welcoming new families even in the face of the economic challenges in 2008. Continuing its trend of positive developments over the years, the state has emerged as one of those regions where new construction is on the rise.
As reported by local news source The Oregonian, construction has started to pick up all over Oregon, which means that new and old homeowners alike are investing in the housing market with newfound zeal and zest.
According to experts, this trend shows a better balance between higher prices and newer listings. This would improve Oregon housing market statistics as we step into 2020. But at the same time, it will also be a beneficial development if you are looking to buy a house in Oregon anytime soon.
You Can Benefit From a Larger Inventory
You might have heard that construction around Portland had also picked up the pace, especially for multifamily units. While this was a great development in terms of pricing and listings for those who were house hunting in the big city, it did not have much of an impact on the inventory offered through the rest of the state.
But this increase in construction in Oregon, promises better inventory in the near future. Seeing that the new construction trend will not exclusively be used by original homeowners for residential purposes, it would surely open new doors for potential homebuyers to see.
If you are planning to buy a home around Oregon, then you can also benefit from this improvement in the housing market. The key here is to find realtors who are not only well-versed with the local needs; but also, someone who is capable of seeing where the market is headed in the near future. By dealing with such an expert, you can find your dream home while also benefiting from the updated Oregon housing market statistics.
Are you looking for a home in Oregon? Our experts at The AFTHA Program will help you find the best one. Talk directly with our specialists, and ask for the wide range of first-time homebuyer programs you can choose; the whole weight won’t be in your shoulders anymore. Call now to (833) 295-6128, or write directly to support@afthaprogram.com.
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