BrokerageIndustry News

Portland, Ore., market is warming up

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Dropping inventory, stabilizing prices and a steady availability of distressed properties demonstrate that Central Oregon and the metro Portland, Ore., area housing markets are stabilizing, according to four leading real estate professionals who shared their perspectives with Inman News. In Portland, lower-priced homes in good condition, especially those under $150,000, are going fast, said Portland-based brokers Brian Houston and Mike Rohrig. Houston, a broker with Coldwell Banker Seal in Portland, noted that investors and flippers are prominent homebuyers at the moment. Central Oregon is seeing much the same trend, said Thesa Chambers, principal broker at Prudential NW Properties based in Bend, Ore. Activity among first-time homebuyers is "explosive," she said, with available homes in the lower price ranges are getting multiple offers. In Portland, with rising gas prices, homebuyers are also looking for homes closer to the city center, Houston said. Just across the Colu...