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Predicting the 2017 Housing Market

Thursday, June 1, 2017   (0 Comments)
Posted by: Kristine Thomas
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 How is the Willamette Valley's Housing Market
Impacting Your Business? 
The story of Oregon's housing market is a classic case of supply and demand.
There is clearly a demand from buyers with homes spending fewer and fewer days on the market. The demand causes home prices to increase, making it difficult for many first-time or low to middle income buyers to purchase a home.
So what does this mean for your business? 
Laura Dorn, a broker with Berkshire Hathaway Real Estate Professionals, will share how the lack of inventory is a challenge for both the buyer and the seller. She also explain how the shortage of housing impacts the cost of housing and the cost of development and new construction. 
An economist with the state of Oregon's Office of Economic Analysis, Josh Lehner will explain how buyer demand and low inventory impact businesses that need a supply of affordable housing to attract employees.
With many out-of-state buyers flocking to Portland, they are discovering the lack of available and affordable homes for sale and looking to purchase in nearby cities, including Salem.
Add to that the problem of home prices and rental costs increasing faster than income or wages for the average household.

Learn what Dorn and Lehner have to say about the housing market, with each approaching the topic from a perspective of a broker and an economist.

 

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