Feel like you can’t catch a break in today’s red-hot real estate market? You’re not alone! What was once a buyers market in Oregon has turned into a fast-paced sellers market thanks to a combination of low interest rates, lack of supply, and demographic trends. So, it’s no surprise that the house-hunting climate in Portland is so competitive right now.
For American homeowners, a large backyard has long been a status symbol, and for many it used to top the list of “must-haves” when searching for a new home. However, as the balance tips toward shoppers looking for small-footprint homes, cities are focusing on denser housing — leaving some to ask, “Where have all the big yards gone?”
Online searches for questions like “Are we in a housing bubble?” or “Is the housing market going to crash?” have seen a huge increase over the past year, according to Google Search. And in the past few months, we’ve received a number of comments and messages from home shoppers who love our community, but say they are “just waiting for the real estate bubble to burst.” Unfortunately, those who are waiting to buy a new home may end up disappointed – because experts agree that the U.S. is in a housing boom, not a bubble.
Since the grand opening of Reed’s Crossing in 2019, homebuyers have fallen in love with our community and everything it has to offer. In fact, we recently reached the benchmark of 500 home closings, exceeding even our own lofty goals for the first two years.