Recession Headlines Are Growing—Here’s Why Buyers Shouldn’t Wait

You’ve probably seen the headlines—talk of a potential recession is heating up. While that might sound scary, history tells a different story for homebuyers.

During 5 of the last 6 recessions, home prices actually increased (CoreLogic). This trend highlights the resilience of the real estate market even in uncertain economic times. Rather than waiting for prices to fall, savvy buyers have often found opportunities to build equity and secure valuable assets.

Here in the Portland metro area, the market remains strong. According to recent data, the median home price in Portland has increased by approximately 4% over the past year, currently sitting around $520,000. Meanwhile, mortgage rates have recently dropped to an average of 6.1%, the lowest in three weeks (Mortgage News Daily), boosting buyer purchasing power and fueling increased demand.

Lower mortgage rates often follow recession fears, giving buyers more purchasing power. This combination creates a unique window where you can afford more home for your money.

If you wait for prices to fall, you might miss out on these lower rates and the potential for rising home values. The market is dynamic, and timing can make a significant difference in your investment.

Let’s connect and talk about a smart plan tailored to your goals. Together, we can navigate today’s opportunities and position you for success before conditions change. Whether you’re buying your first home or looking to upgrade, now is a great time to explore your options with confidence.

Reach out anytime—We are here to help you make informed decisions and achieve your real estate dreams.