"2024 Housing Forecast: Expert Insights on Buying and Selling in the Real Estate Market"
Mortgage lenders and agents in Portland, Oregon, are observing an increase in buyer interest as mortgage rates begin to decline. Tim McBratney of PacRes Mortgage notes an unusual spike in activity during the holiday season and anticipates more competition among buyers as rates potentially drop to the mid-six percent range. Bonnie Roseman of Living Room Realty highlights the significant impact of rate changes on monthly payments, especially with Portland's average home price around $600,000. Reuben Schug of Windermere Realty Trust observes a renewed interest in city living due to improving conditions. The real estate market is expected to become more competitive in the spring, with advice to buyers to enter the market early and consider refinancing if rates drop further.