Last week, the Oregon Senate passed House Bill 2001 which would fundamentally change residential zoning laws in Oregon. In cities of 10,000 or more people, duplexes will be allowed in areas currently zoned for single-family homes. In cities of 20,000 or more people, triplexes and fourplexes will be allowed in areas currently zoned for single-family homes. The bill has bipartisan support and Gov. Kate Brown is expected to sign it. Read More
The Oregon House passed HB 2001, a bill that prevents cities from the exclusive use of single-family housing. According to reporting by OPB, this first-in-the-nation measure passed on a bipartisan 43-16 vote and now moves to the Oregon Senate. HB 2001 follows closely behind Minneapolis which banned single-family housing in December. Read More
The Portland Real Estate market saw some strong numbers last month. After a strong April, we saw that momentum continue into May with new listings and closed sales up over last year by 5.1% and 5.9%, respectively. The Median Home Price also increased by 2.7% over last year to $420,000 — the highest we’ve ever seen in the Portland Metro Area. Read More
April’s market numbers are showing a stronger market than we’ve seen in the last few months. This is typically the busiest time of the year in the Northwest, so it’s not unexpected to see a stronger April than March. Last month both new listings and pending sales were down, so now we’re seeing the effect of that in a drop in Closed Sales during April. Fortunately, both listings and Pending Sales were up in April compared to last year (5.5% and 3.1%, respectively). Read More
Earlier this year, Oregon House Speaker, Rep. Tina Kotek (D-Portland) drafted House Bill 2001 that would increase housing density across the state. The bill was unanimously approved by a House committee Monday after the Portland Democrat agreed to make several changes and even has some allies across the aisle. Read More
