Property values in parts of Portland Oregon forecast to rise 8.3% in 2015
Recent appraisals I have received on behalf of clients I am working with contain comments from the appraisers that property values in many parts of the Portland metro area are forecast to increase as much as 8% – 10% this year. This is in large part due to first time home buyers finally entering the housing market in 2015, and the exceptionally low inventory in the metro area.
We are already seeing a very active market this year, and unless conditions change (increased inventory, rising mortgage rates, etc.) the market is likely to remain active for the remainder of the year.
However, there are factors outside our control that could cause the market to slow. Most significant is the looming threat of Fed rate increases which could affect mortgage rates as well.