We like to keep our students up to date on all things first time home buyers care about and the one we've the most questions about recently is about how the Portland real estate market is, so we made this video for you.
We show that the real estate market goes up and down in an upward trend over the years. And that the downturn in 2007 bottomed out in about 2012 and by 2014, prices were back up to the 2007 level. That was the biggest market correction since the Great Depression and yet this time, it only took 7 years to come back. I know, it felt like it took forever, but in the grand scheme of things, 7 years isn’t too bad for what was likely a once in a lifetime occurrence!
Also, we look to be a couple years from the next normal downturn in the market, but that is the natural cycle and needs to happen. From our experience and from experts in the industry, nobody is seeing the next slowdown be as long or anywhere near the decline because there are so many more protective measures in place that were not there in 2007.
Have a friend who could really use one of our classes? Send them here for more info and dates: www.portlandhomebuying101.com