Summer Real Estate Will Have Fewer Listings and More Competition

According to reports’ interviews with real estate professionals in the Portland area, inventory and mortgage rates are low heading into the summer. Oregon First Realtors’ Ilyse Ball has noticed a change over the past year.

“It usually slows down after Memorial Day, kind of through July and August, because people are out enjoying the beautiful Portland weather. I feel like we’re starting to see that again this year.”

“I do think that the buyers that are out are very serious, and actually, I’m seeing more listings come on the market than we normally do this time of year,” as noted by Ball.

Summer Real Estate Will Have Fewer Listings and More Competition

Ball has heard more buyers complain about the Portland real estate market. “I’m seeing people want to be outside Multnomah County, in many instances. They’re trying to avoid some of the taxes that affect Multnomah County and Portland specifically,” she said.

Some mortgage lenders have expressed optimism regarding recent developments regarding the debt ceiling and inflation rate. You can see a tweet for the confirmation of the news-

Mortgage rates are hovering around 7%, but Tim McBratney expects that to drop. “The market is looking a bit more optimistic. That will bring rates down, and I think by this year.”

“I think in the next month or two or three, we’re going to see rates in the low sixes and perhaps high fives, so let’s hope for the best and hope the market enjoys that nice reprieve,” McBratney said.

According to McBratney, bidding wars are already occurring and will only increase as rates decrease. He predicted, “We do think if we get down into the high fives or mid-fives, that really the market is going to take off, and you’re just going to have that added amount of home buyers out there looking for homes.”

Here are some helpful resources for learning more about Oregon:

Real estate agents and mortgage lenders agree that, in the current market, a home that is priced correctly will sell quickly.


Laurie is a passionate news writer with a keen eye for detail and a dedication to accurate reporting. She has been covering local and national news for for over a decade, bringing a fresh perspective and insightful analysis to every story she covers.Laurie's love of journalism began early in life, and she pursued a degree in journalism to further her knowledge and skills. She quickly made a name for herself in the industry, working for a variety of media outlets before joining the team at

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