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Is now the right time to buy a home in Oregon? If you’ve been waiting for interest rates to drop before buying, 2025 might finally be your moment. There are four good reasons why buying a home now could be one of the smartest financial decisions you make this year. Let me share them with you.
1. Interest rates have dropped. Interest rates have come down recently due to factors like a lower-than-expected jobs creation report in the U.S. Right now, the national average is about 6.26%, which can make a noticeable difference in what you can afford and how much your monthly payments will be.
2. Increased inventory. In many neighborhoods, there are more homes on the market than before. That means sellers are competing more, giving buyers better opportunities to find the right home and take advantage of favorable rates. Moving quickly can make a big difference.
3. Sellers are motivated. Many sellers are adjusting their prices to attract buyers. In some neighborhoods, nearly half of the homes listed have seen price reductions. In fact, I recently worked with clients who bought a home that had already dropped about $100,000, and we were able to negotiate an additional $25,000 off the purchase price. On top of that, the home has extras like a theater, a fully furnished ADU, and more. They couldn’t be happier with the deal.
4. Home prices are still rising. Even with these opportunities, home prices are continuing to go up. That means buying now lets you lock in today’s pricing and protects you against future inflation. When you combine lower interest rates, more homes for sale, and motivated sellers, it creates a unique window of opportunity for buyers.
So, if you’re thinking about buying a home in the Portland metropolitan area, this market still favors buyers. Inventory is up in many neighborhoods, and sellers are willing to compete to make a deal. If you’re all set to make a move now or need help in finding and getting the best deals in the area, just email me at [email protected]. I’d love to chat with you anytime.
