Portland Real Estate Market thread

[Urbanpdx]

I think it might be valuable to discuss the market in general, especially the condo market as things are changing a lot this year.

We have touched on this for specific markets like the South Waterfront but a dedicated thread might be appropriate.

To start things off, I understand there are 16,000 not yet constructed condo units in the pipeline in the metro area. Suprisingly enough only a fourth are in Multnomah County. We are already facing a supply/demand imbalance and for-sale inventory continues to grow. How much do prices have to drop before we have a strong market again? When will that occur? This is important to figure out because these projects we look at will take a couple years to complete and forcasting the market is part of this game. A few developers going bk could shut down lending and construction for a long time.