After years of record appreciation and high financing costs, there are indications that the U.S. housing market may finally be moderating.
A number of factors, such as declining demand, are contributing to the apparent decrease in prices in specific regions, particularly Florida.
However, Zillow data indicates that homes in Portland are generally priced at the same level as they were a year ago,
in contrast to the majority of Florida, where home prices are also declining due to natural disaster concerns and escalating insurance costs.
According to a SmartAsset analysis conducted in June, Portland’s housing market was classified as the 15th most expensive in the nation.
The Graves family may ultimately benefit from the recent economic downturn, which resulted in mortgage rates reaching their lowest levels in over a year.
