GROWING DEMAND FOR HOUSING IN OREGON FUELS SELLER'S MARKET

House hunting in Portland is getting increasingly difficult. It’s a seller’s market with few homes and many buyers, but how long can this last?

If you have tried to buy a home recently you know it’s tough work, with many offering more than the asking price.

Local realtors say the low supply and high demand for homes is fueling these prices. With that, people are reportedly spending 6 months on average looking for a home.

Experts believe people have to accept they might not get everything they want out of a home right now. Interest rates are also causing people to not be able to afford what maybe they once could.

As hard as it is, you have to be patient. Prospective buyers shouldn’t make the leap into homeownership unless they can afford it. As for homeowners, they shouldn’t risk their main home for a prospect that might not pan out.

Source: KOIN News