Economy | News | Oregon

Portland Home Prices Rose 13 Percent In 2013

OPB | Dec. 19, 2013 11:01 a.m. | Updated: March 24, 2014 9:39 a.m. | Portland

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Portland’s housing market saw a big boost in prices this year, according to the real estate firm Zillow.

The total value of Portland area homes increased by almost $23 billion this year — or about 13 percent. That’s better than the national average increase of about eight percent.

But the director of economic research at Zillow,  Svenja Gudell doubts such gains will be repeated next year, “I do expect the gains to be slightly lower, simply because home value appreciation will slow down next year,” she said. 

“I mean we saw crazy appreciation in some parts of the country, north of 20, 30 percent in places like Sacramento and Vegas.  Portland saw very healthy numbers,” Gudell said.

Gudell expects home prices nationally to rise closer to the long-term average of between three and five percent.

About ninety percent of the metro areas tracked by Zillow saw home price gains this year.

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