Is the Portland housing market beginning to turn around?
Analysts are taking up that question with the release of a new report from the Regional Multiple Listing Service. The bad news is that the organization’s data show the median house price in the Portland metro area fell another 7.9 percent to $221,000. Home sales totaled $5.2 billion in 2011 — an 11-year-low.
But the data also show an 4 percent uptick in the number of homes sold in the Portland metro area, which may be a sign of a recovering market. Additionally, the ratio of closed listings to active listings is at its lowest point since June 2007, a sign that the buyer’s market could be the best it’s been in nearly five years.
Are you trying to buy or sell a home? Are you having any luck? What questions do you have for real estate experts about housing markets in Oregon?
- Charles Turner: Author of the Portland Real Estate Blog
- Peg Malloy: Executive Director and Founder of the Portland Housing Center