You likely know we’ve seen a slowdown in the greater Portland/Vancouver real estate market. But, what you may not know is that this is largely attributed to consumers listening to the national media reports of a poor housing market!

Although there are areas of the country where the housing market is experiencing a downturn, the Portland market has remained largely insulated! Home prices are still stable or appreciating at a steady rate here. And they’re still selling, just not as quickly as they have in recent years. (See last month's Housing Sales Report below.) The market is experiencing a cyclical adjustment, just as it always has and always will continue to do.

Portland metropolitan area homeowners can relax! You live in one of just five cities in the nation where home values are still rising. In another measure, the Mortgage Bankers Association said Oregon had the nation's second lowest foreclosure and delinquency rate in the country. Real estate is still an excellent investment opportunity here. In fact, it's officially a buyer's market and a good time to be a buyer! Interest rates are low, inventory is plenty, and the sub-prime meltdown has not had a dramatic effect here.

Don’t be distressed by what you hear about the national housing market from the media! It’s the local market that matters most to you! As your broker, I'll make every effort at all times to keep you informed of the facts & news as they relate to you.

It’s important to consider all of the facts when you are thinking of buying or selling a home, and to look at the market data in your own area.

If you would like to receive a free monthly local real estate market report to assist in determining the current value of your home, and to see what homes are selling for, call me at 503-954-6777 or email me. This information is provided at no cost or obligation, and your personal information will not be disclosed to anyone else.

To view last month's Portland area home sales report, visit my Free Reports page now.