Portland Real Estate Market Update- April 2020

March was the pivotal month for Oregon when COVID-19 began the shut down of many things and it was anyone's guess as to how the housing market was going to react.  Although there was some initial panic, March was still an exceptionally strong month in Portland real estate.  Home sales were strong and more homes were hitting the market and selling fast.  Now that we're into April and are seeing the final numbers for March, the biggest change we've seen so far in April is that fewer homes are coming on the market for buyers to snap up.  Buyers are still out there looking to take advantage of tax returns, stimulus checks, and low interest rates, but sellers seem concerned about listing their homes.  Now is a great time to sell with homes going so fast and with an even more streamlined home showing process than ever.  To see more about how easy it is to sell right now with virtual tours and, click here.  Buyers and sellers that are active NOW will beat the rush of those currently on the fence as the economy begins to open back up.  As more homes hit the market, there will be more competition for sellers which may flatten home prices.  Call us at 503-784-9940 or email us at noah@arkrealtygroup.com to have a more in depth discussion about your situation and the best options for you.