Portland Metro/Tigard Real Estate News

In this forum we will offer discussions on a wide variety of subjects, but focus on Portland Metro and real estate. Hopefully our insights and experiences will inform, educate, challenge and entertain our readers week after week.

Sunday, February 18, 2007

Values fell in 73 metro areas, but NOT Portland

Homes prices are likely to spring back in the coming months according to the National Association of Realtors. The 16 Feb, 07 edition of USA Today reported that nationwide median home prices fell in 73 metro areas in the final three months of 2006. "At least the bottom appears to have already occured," says Lawrence Yun, an NAR economist.

The good news for Portland metro is that despite the nationwide housing malaise in 2006 (2.7% decline in the median home price), Portland still saw a 11.2% increase! Click here to see the list of the median home prices in 149 metro areas.

We have noticed a significant increase in market activity in 2007. This is partly due to buyers responding to price drops and pent-up demand as a result of buyer hesitation in the second half of 2006.

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