Here is Shawn Realty weekly real estate market update!
Portland Market: New home builders slashing prices and offering ~5% incentives for rate buydowns/closing costs is notable. It reflects pressure to move inventory in a high-rate environment. Do you think this level of incentives will sway the buyers who are on the fence?
FHA Change: The HUD rule barring non-permanent resident aliens from FHA financing (effective May 25, 2025) could impact demand in diverse markets like Portland. Might tighten things further for first-time buyers.
Lock-In Effect: Listings driven by life events (death, divorce, relocation) rather than discretionary moves make sense with rates high. Downsizing/move-ups are stalled.
Portland Oregon Stats: $543K median home price with a $4,374 monthly payment (5% down, Oregon rates) with affordability challenges. $47K is needed to buy a house (down payment and closing cost).
National Stats: $386K median home price with a $3,110 monthly payment (5% down, with Oregon rates) highlights affordability challenges. That $35K down payment.
Tariffs & Construction: With only ~7% of materials imported ($14B vs. $190B domestic in 2024), tariffs may not hit new construction hard. Still, any cost creep could squeeze builders already cutting prices.
Zillow’s Offers “Offer Strategy”: The “strong/moderate/weak” offer tool sounds like a flashy feature, but I doubt that its accuracy and legality would keep this feature for that long. Without robust data and understanding human psychology, it’s hard to trust—more noise than signal.
Private Listings Crackdown: Zillow and Redfin banning private listings not entered into MLS within 24 hours aligns with NAR introduced allowing “private listing period.” Could shake up how agents handle off-market deals.
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Shawn Realty 