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As we explained in a recent blog post, the real estate market in Portland, Oregon has undergone quite a few changes last year. And it looks like that could continue into 2026 as well.
Recent forecasts and predictions for the Portland-area housing market suggest that things could be very different next year, compared to what we’ve become used to.
The biggest change has to do with the overall pace of the real estate scene. It’s not taking as long to sell a home these days, which can help sellers get their home off their hands faster.
Here are three possible predictions for the Portland, Oregon housing market in 2026.
Home prices in Portland have remained relatively stagnant over the past year.
As of January 2026 the median home value for Portland was around $519,612. That was down 1.5% from a year earlier.
Modest price appreciation is expected for 2026. Most local forecasts anticipate slow, steady home price growth across the Portland metro in 2026 — rather than dramatic increases or steep declines. Many experts project low single-digit gains in average prices.
Higher housing costs have reduced the number of buyers in the real estate market. This in turn has reduced the competition level among buyers, offering them a chance to “catch their breath” after the frenzied conditions of the past two years.
Which brings us to prediction #2 for the Portland real estate market. Next year, the home-buying process could be a lot less stressful. And wouldn’t that be a welcome change?
Later this year, Portland, Oregon home buyers might find that they have more bargaining power as well. More houses are coming onto the market, and a significant number of them have had price reductions. This means the market is shifting in a way that could favor Portland home buyers well into 2026.
Housing market inventory in the Portland area has been rising compared with prior years, contributing to a more balanced market between buyers and sellers. That said, inventory in the city is still tight, with just a 3.3-months supply of housing available.
This means buyers will still want to bring their ‘A’ game as they start the house-hunting process.
For Portland, OR in 2026, the conforming loan limit rises to $832,750 for a one-unit home, reflecting higher home prices compared with 2025. Loans above this become jumbo loans with stricter terms.
FHA loan limits are lower; the base limit is about $541,287 for a one-unit property but can go up toward $1,249,125 in high-cost areas. For Portland, the FHA loan limit in 2026 is $701,500. These limits shape loan eligibility and affordability for buyers.
Do you have questions about mortgages in Portland, OR? If so, Sammamish Mortgage can help. We are a local mortgage company from Bellevue, Washington, serving the entire state, as well as Oregon, Idaho, Colorado & California. We offer many mortgage programs to buyers all over the Pacific Northwest and have been doing so since 1992. Our programs include the Diamond Homebuyer Program, Cash Buyer Program, and Bridge Loans. Use our mortgage calculator to get an idea of what your loan will cost you. Contact us today with any questions you have about mortgages, get pre-approved for a mortgage, or visit our website to get an instant rate quote.
Whether you’re buying a home or ready to refinance, our professionals can help.
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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.
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