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Please note, the arrows in the trends table only showcase numbers going up or down - NOT whether or not the trend is beneficial as this is determined based on perspective.

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SW Washington Report (Clark & Cowlitz) (click here)

Inventory is trending down. 

Appreciation is still up, yet lower versus last month year-over-year. 

Cowlitz County

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Portland Metro, OR Sales Report (click here)

Inventory is trending down.

Appreciation is still up, yet lower versus last month year-over-year. 

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Polk and Marion Counties Sales Report (click here)

Inventory is trending down.

Appreciation is still up, yet about equal versus last month year-over-year. 

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Mortgage rates for first-timers putting 5%-20% down or less, credit in the 640-680 range, of a 30-year loan (from Zillow). Remember that every lender is a little different.

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Blacknight Mortgage Report click here, February 2023. Interesting facts:

• Serious delinquencies continued to improve (go down) nationally. Delinquency rates are expected to decline this spring, as borrows are expected to use tax refunds to catch up on payments, although smaller refunds as well as new economic pressures may lessen positive impacts.
• The average monthly P&I payment on the median home purchase has improved in recent months, but is still up $813 over the past year and a half.

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Some market snapshots.

FIRST-TIME BUYER homes priced below $400,000 in SW Washington. By summertime, I doubt they will exist. Click here to see that info.

FIRST-TIME BUYER homes priced below $400,000 south of the Columbia River. Click here to see that info.

FAIRVIEW VILLAGE, WA is an anomaly in the area, holding prices higher. Click here to see the info.

LONGVIEW / KELSO area is still attractive for families looking for starter homes. Click here to see that info.

Area single family homes with at least 3 bedrooms, 1.5 baths, at least 0.75 acres, and a maximum of $850,000. Click here to see that info.

And get your home value, or the neighbor's house, instantly! Click here for that page.

Trends that I have noticed in the last few weeks & final note:

Prices are still going up. With new builds/homes, once the listing is published, price adjustments tend to go up. With resale homes, once the listing is published, price adjustments tend to go down.

Everyone keeps asking me when prices are going to crash. They aren't in my opinion. There is still so much pent up demand, of buyer's sitting on the fence, waiting for a better day in interest rates or prices. Look around. See all the mult-family building that is happening, which is seemingly filling up right away? These are future buyers. Home builders are just not keeping pace with new homes. The only thing keeping demand down right now is the rates.

The average price is up versus a few months ago, so when is the right time to buy? Right now, while the rest of the market is waiting, you or someone you know can buy a home with less competition versus a one to two years ago. But that will change as the rates come down. People will come out of the woodwork. Even the homes that are of decent quality and being listed below comps, these are obtaining multiple offers.

We Realtors do not know when it will happen, but if and when interest rates drop to below 5% it will be back to bidding wars.

The four basic compenents of buying a house are 1) income (hardest to control), 2) savings (for down payment and closing costs), 3) household cashflow aka debt-to-income ratio (easier to control), and 4) credit rating (easier to control).

Most conversations I am having now are centered on encouraging people to improve their household cashflow and keeping their debt-to-income ratio lower. If someone has a large income, some savings, ok credit, yet if your debt-to-income ratio is too high, this kills the availability of a good rate for a loan.

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