RESIDENTIAL PRICES ARE ADJUSTING IN PORTLAND, OREGON
Even though I focus on multifamily brokerage, I subscribe to the RMLS advertisement feed for brokers marketing residential properties in Oregon. Sometimes, (but not always) the residential market provides a precursor look to the commercial market (the “canary in the coalmine” effect). For example, in 2008, residential housing prices took a dip before the market noticed the recession.
Over the past two weeks, I noticed a trend in the headlines for these emails, does this signal a trend for commercial real estate and the economy? I don’t know, but will keep a close watch.
Here are the latest headlines I’m seeing, it could be a coincidence, but who knows! These headlines were from yesterday alone:
- NEW PRICE- MOTIVATED SELLERS!
- UNBEATABLE PRICE ADJUSTMENT ON THIS LAKE OSWEGO VIEW HOME
- PRICE REDUCTION ON ALBERTA