No Obligation and transparency 24/7. Instantly compare live rates and costs from our network of lenders across the country. Real-time accurate rates and closing costs for a variety of loan programs custom to your specific situation.
Home buyers in Oregon tend to have a lot of questions about the local real estate market and how it relates to the purchase of a home. One of the most common questions is: Does it make sense to buy a house in Oregon now, later on in 2026?
Related: Oregon first-time buyer guide
Experts forecasted that home prices in Oregon would increase over the next 12 months. Conversely, rates are down from the same time last year, and are likely to continue their downward trend.
It’s a supply and demand story, as always. There is a high level of demand for housing in cities across the state, but there’s not enough inventory to meet that demand. As a result, home buyers in Oregon who postpone their purchases until later in 2026 could encounter higher housing costs.
As of January 2026, the average price for a home in Oregon is $487,843. That’s a 0.8% decrease from the same month last year.
Experts suggest that home prices in Oregon will increase throughout 2026, though at a moderate pace.
Related: 5 mortgage tips for Oregon home buyers
Let’s talk more about the supply and demand imbalance that is occurring across the state. This is one of the primary factors that is influencing home prices. So, it’s support for home buyers to understand these market conditions.
Most real estate markets across the state of Oregon are experiencing a supply shortage. Inventory is falling short of demand, and that puts upward pressure on home values. In fact, Oregon has some of the shortest inventory supplies in the entire country.
Let’s look at the inventory situation in Oregon’s three most populous cities. From a housing perspective, Portland, Salem and Eugene all have something in common. These real estate markets all had around a 3-3.5-month supply of homes for sale for 2026.
Portland had around a 3.3-month supply. That means it would theoretically take just over 3 months to sell all homes currently listed for sale in Portland, if no new properties came onto the market in the interim.
Economists and housing analysts say that a balanced real estate market has somewhere around 5 to 6 months’ worth of supply. So, these markets are clearly “tighter” than normal, from an inventory standpoint. This is true for other parts of the state as well.
Getting back to the question at hand: Does it make sense to buy a home in Oregon now, or is it better to wait until later in 2026?
Current trends suggest that home buyers who delay their purchases until later this year or next will probably encounter higher housing costs. All of these trends and forecasts make a good case for buying a home sooner rather than later.
Mortgage rates may still be somewhat high, but they’re on their way down. Right now, the rate for a 30-year fixed rate mortgage is 6.09%. That’s about 1% lower than the same time last year.
According to a recent housing forecast from Freddie Mac, the average rate for a 30-year fixed mortgage loan is expected to dip down to the 6% mark or even lower by the end of 2026. Even a 1% difference in interest rates can make a big difference in the overall cost of a mortgage to finance a home in Oregon.
If you are looking to buy a home in Oregon in 2026 or beyond, you’ll want to work with a seasoned mortgage specialist to help. Sammamish Mortgage has been helping borrowers across the Pacific Northwest since 1992, including Washington, Oregon, Colorado, Idaho, and California. We offer competitive rates on a variety of mortgage programs. Get an instant rate quote or use our mortgage calculator to estimate your loan costs. Contact us if you have financing-related questions or would like to get pre-approved.
Whether you’re buying a home or ready to refinance, our professionals can help.
{hours_open} - {hours_closed} Pacific
No Obligation and transparency 24/7. Instantly compare live rates and costs from our network of lenders across the country. Real-time accurate rates and closing costs for a variety of loan programs custom to your specific situation.
Adjust the parameters based on what you want to track