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Portland Home Prices Continue Climb In October

OPB | Dec. 26, 2012 3:54 p.m.

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Portland home prices continued to rise in October. They’re up 5.2 percent on the year.

The Portland housing market performed a little better than the national average, according to new figures from Case-Shiller.

U.S. home prices rose 4.3 percent in the 12 months ending in October, out-performing analysts’ forecasts.

David Blitzer is chairman of the Index Committee at Standard & Poor’s. He says despite being in the slow season, the housing market continues to be encouraging.

“Adjust for the fact that we’re going through the slow selling season, and it’s getting to be winter when most parts of the country nobody wants to build a house or go and look at one, we still have a lot of momentum,” Blitzer said.

October prices in Seattle beat Portland by a smidge, with a 5.7 percent increase. But the good news isn’t seen everywhere. Prices in New York City and Cleveland dropped a little over 1 percent.

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