Rate Hikes Pause
This week, the Federal Reserve paused rate hikes for the first time in 15 months, but long-term rates still increased. The decision was expected, but the announcement of two more rate hikes this year caused market volatility. The Fed aims to observe the impact of previous rate hikes on inflation before making further moves. The economy and job market are expected to soften, leading to potential interest rate cuts in early 2024. However, there’s a 2-in-3 chance of a rate hike in July. Other central banks have also increased their rates, putting upward pressure on rates globally.
Some Highlights
- If you’re thinking of buying a home this year, be sure to factor in the long-term benefits of homeownership.
- Over time, homeownership allows you to build equity. On average, nationwide home prices appreciated by 290.2% over the last 32 years.
- That means your net worth can grow significantly in the long term when you own a home. Let’s connect so you can start your homebuying journey today.
Fun Things to do this week…
Pedalpalooza 2023
This summer-long festival of bikey fun is a calendar highlight for pedal-powered Portlanders. Riders of all ages are welcome to join hundreds of events independently organized by community members like you.
When: Every day, through Aug 31
Portland Beer Week 2023
The annual celebration of all things beery and beautiful in the Pacific Northwest returns in grand style, stretching the definition of “week” to encompass 10 whole days, and sprawling all over the city like a freshly shaken can of lager popped with no regard, featuring a wide range of events at notable breweries and venues.
When: Every day, through June 25
THIS WEEKS REAL ESTATE UPDATE
Numbers help tell a story.
Numbers are powerful, especially when it comes to real estate! Whether you are assess whether it’s a good time to buy, sale or invest these numbers can be very valuable in determining offers or best sales price! PLEASE FEEL FREE TO REACH OUT WITH ANY QUESTIONS
Portland, OR 97230
Wed June 21 2023
This week the median list price for Portland, OR 97230 is $479,900 with the market action index hovering around 66. This is an increase over last month’s market action index of 65. Inventory has decreased to 33. Click here to stay informed with the Portland market!
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller’s Market
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Portland, OR 97220
Wed June 21 2023
This week the median list price for Portland, OR 97220 is $499,950 with the market action index hovering around 68. This is an increase over last month’s market action index of 64. Inventory has increased to 35. Click here to stay informed with the Portland market!
Fairview, OR 97024
Wed June 21 2023
This week the median list price for Fairview, OR 97024 is $629,888 with the market action index hovering around 37. This is less than last month’s market action index of 39. Inventory has increased to 14. Click here to stay informed with the Fairview market!
Troutdale, OR 97060
Wed June 21 2023
This week the median list price for Troutdale, OR 97060 is $574,900 with the market action index hovering around 60. This is less than last month’s market action index of 65. Inventory has increased to 17. Click here to stay informed with the Troutdale market!
Gresham, OR 97080
Wed June 21 2023
This week the median list price for Gresham, OR 97080 is $550,000 with the market action index hovering around 48. This is about the same as last month’s market action index of 48. Inventory has increased to 96. Click here to stay informed with the Gresham market!
Portland, OR 97236
Wed June 21 2023
This week the median list price for Portland, OR 97236 is $552,275 with the market action index hovering around 53. This is less than last month’s market action index of 56. Inventory has decreased to 36. Click here to stay informed with the Portland market!
Portland, OR 97211
Wed June 21 2023
This week the median list price for Portland, OR 97211 is $649,000 with the market action index hovering around 63. This is less than last month’s market action index of 65. Inventory has increased to 46. Click here to stay informed with the Portland market!
Why the Median Home Price Is Meaningless in Today’s Market
The National Association of Realtors (NAR) will release its latest Existing Home Sales (EHS) report later this week. This monthly report provides information on the sales volume and price trend for previously owned homes. In the upcoming release, it’ll likely say home prices are down. Read more
Saving for a Down Payment? Here’s What You Need To Know
If you’re planning to buy your first home, then you’re probably focused on saving for all the costs involved in such a big purchase. One of the expenses that may be at the top of your mind is your down payment. Read more
Have you heard of HOMEBOT?
Find out everything you need to know about your homes current value here! Learn more
Are you thinking about selling your home?
FIND OUT HOW MUCH YOUR HOME IS WORTH?
RECIPE OF THE WEEK!
Air Fryer Mahi Mahi with Lime Butter
Ingredient Checklist
- 1 Lb Mahi mahi fillets (about 4 fillets)
- 1/2 Tbsp Olive oil
- 3/4 tsp Old Bay seasoning
- Salt
For the lime butter
- 2 Tbsp Butter, softened to room temperature
- 1/4 tsp Lime zest, packed
- 1/2 tsp Fresh lime juice + additional for garnish
- Pinch of salt
Instructions Checklist
- Rub the fish with the oil and then season with the Old Bay seasoning and some salt.
- Place into the mesh basket of an air fryer and cook at 400 degrees for a 7-9. minutes, depending on the thickness of your fish. The internal temperature should be about 140 degrees. Remove from airfryer, cover and let rest 10 minutes to finish cooking (fish should be 145 degrees before eating, and cooking it like this prevents it from getting dry.)
- While the fish sits, mix the butter with the lime zest and a pinch of salt. Stir in the lime juice.
- Serve the fish with lime butter and optional extra squeeze of lime juice.
- DEVOUR!
Cosmopolitan Cocktail
Indulgents
- 400g frozen strawberries
- 120ml tequila
- 75ml triple sec
- 1 lime, juiced
Instructions Checklist
- Tip the sea salt onto a saucer. Dampen the rims of two margarita glasses, then turn the glass upside down in the salt and twist to coat the rim.
- Add all remaining ingredients to a blender and blitz until smooth. Pour into glasses and serve immediately.
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