March Market Action Report - Portland Metro Area

The market is heating up for summer!  The market is a bit cooler than March of last year, but heated up significantly from February of this year.  Days on Market are shrinking back as homes, especially under $350,000, are moving pretty quickly and typically pending within a week.  Interest rates are slowly climbing and still expected to increase throughout the year.  Prices continue to appreciate at a slower, but steady pace make affordability of homes more difficult.  With no relief in sight, it doesn't make sense for buyers to wait and will likely only get tougher for first time buyers.