Tuesday, August 29, 2017

Where are home prices heading in the next 5 years?

Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey.
Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.

The results of their latest survey:

Home values will appreciate by 5.0% over the course of 2017, 4.0% in 2018, 3.2% in 2019, 3.0% in 2020, and 3.0% in 2021. That means the average annual appreciation will be 3.64% over the next 5 years.

The prediction for cumulative appreciation increased from 17.8% to 18.4% by 2021. The experts making up the most bearish quartile of the survey are projecting a cumulative appreciation of 6.7%.

Bottom Line

Individual opinions make headlines. We believe this survey is a fairer depiction of future values.
From Keeping Current Matters

Tuesday, August 15, 2017

July 2017 Real Estate Market Statistics

The following is the latest Real Estate Market Statistics for July 2017.
Click here for the full report

  • Sales:   2,793 in July 2017 vs 2,776 last July:  0.6%
  • Pending Sales:   3,040 in July 2017 vs 3,302 last July:  -7.9%
  • New Listings:   4,202 in July 2017 vs 4,372 last July:  -3.9%
  • Average Sales Price:   $398,400 in July 2017 vs $355,600 last July:  12.0%
  • Total Market Time: 33 days in July 2017 vs 32 days last July:  3.1%
  • Inventory in Months: 2.1 months in July 2017 vs 1.9 months last July
Inventory by Area:
  • NW Washington County   2.15 months
  • Beaverton/Aloha               1.52 months
  • Hillsboro/Forest Grove     1.47 months

Tuesday, August 1, 2017

Homework Series - August

Some actions you can take this August to keep your home in tip-top shape!

  • Test Smoke detectors and replace batteries as needed 
  • Clean frost-free refrigerator drip pan, vacuum coils behind unit
  • Check cabinet drawers and hinges for proper alignment
  • Check wall and ceiling surface cracks, monitor for major shifts
  • Check door frames for squareness, monitor for significant shifts