Here are my five predictions for the rest of 2021 and early 2022.
Two things that are happening at the end of June are the eviction moratorium and the forbearance moratorium. The forbearance moratorium has been in place for the last 15 months. When the eviction moratorium ends, landlords can start evicting people for not paying rent.
That being said, there are some parts of Oregon that might change that eviction moratorium end date to allow tenants to make up past payments by February of 2022. However, I do not believe most tenants will make up those past rent payments.
Here are my five predictions for the rest of 2021 and part of 2022 in the real estate market from Oregon to Clark County in Southwest Washington:
1. More homes will hit the market. In the month of June, we had 16% more homes listed than in June of 2020. We are seeing more homes hit the market than are being taken off. This is good news for buyers.
2. Interest rates are going to go up.
3. Landlords will start listing their properties. With the forbearance moratorium going away and some people still not making the money that they were before, they’re going to list their houses.
4. We’ll see a peak in pricing. This is due to the rising interest rates and will happen in late 2021 or early 2022.
5. We’ll see more sales. With more inventory, that buyer haze is going away, now that they’re able to pick up some properties without having to bid $150,000 over list price.
If you have any questions, please reach out to me. I’m here to help you. Have a great day.