Brad Twiss on Portland Buyers Regaining Leverage (Marketplace)

In spring 2021, as vaccines rolled out and pandemic restrictions eased, homebuying season came back in force. Marketplace reported that new listings were up 30%, inventory was starting to stabilize, and buyers, mostly first-time millennials with mortgage rates at or below 3.5%, were snapping up homes.

Brad Twiss, owner of Neighbors Realty, told Marketplace that Portland buyers were starting to see some relief. “We’re seeing more listings, and not only that, we’re seeing buyers get a little more power back,” he said. Brad had recently seen offers accepted for their stronger terms, even when they weren’t the highest bid, and his clients had received a repair credit at closing, which he hadn’t seen in a long time. “It does feel promising.”

The story followed Brad’s clients, who had searched since September 2020, toured more than 60 homes and lost seven bids. They finally bought a Portland bungalow for $435,000.

Click here to listen to the full story at Marketplace.org