2017 Portland Real Estate Market Forecast
January 4, 2017
Portland 2017 Home Price Prediction: Zillow – 5.7% increase VeroForecast – 11.1% increase National Home Price 2017 Prediction: Zillow – 3.2% increase NAR (National Association of Realtors) – 4% increase Corelogic – 5% increase Freddic Mac – 4.7% increase Four reasons why home prices will increase nationally in 2017: Basic supply verses demand. New home construction will stay conservative (while slowly rising) and is still historically low after the bubble crashed in 2008. You can tell from the below chart from the U.S. Census Bureau that new construction homes were built at a rate around 1,500,000 a year and in 2017, Forisk Research predicts new construction will hit or get close to that average mark. Forisk Research predicts that home...