As November settles in and the scent of turkey and pumpkin pie fills the air, we’re seeing some interesting shifts in the real estate market. Following the excitement around the Fed rate cut in September, there was a quick rise in mortgage applications. However, as rates climbed again, we’ve noticed buyers becoming more cautious. With Days on Market up 24% from 2023 and prices holding steady, the market shows resilience despite this year’s changing landscape but with few buyers on the horizon. The upcoming Presidential election has also added a bit of a pause in activity, with many keeping an eye on market trends before making their next move.
Buyers today are driven by the right combination of timing, property, and price, rather than the rates alone. Rest assured, I’m monitoring the latest shifts closely—feel free to reach out with any questions about what’s next!
On a sweeter note, I’m thrilled to invite you to our annual Pumpkin Pie Giveaway on Tuesday, November 26th! After missing last year, I can’t wait to catch up with everyone over hot cider and warm apple donuts. Look out for your invitation, and be sure to reserve your pie. We love our clients, and it’s always a joy to celebrate the season together!
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Local Events
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Portland Book Festival
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Portland Veteran’s Day Parade
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The Portland Veterans Parade is a celebration of gratitude and community, honoring the bravery and sacrifices of those who have served. It’s a spirited display of patriotism and pride, where people line the streets cheering for veterans from all branches of the military. LEARN MORE
