Home sales in Oregon decreased by one percent over the last year — according to new figures released by the housing data company RealtyTrac.
But, that doesn’t mean prices are dropping.
Over the last year, the number of homes that sold surged around the country: up 20 percent in Massachusetts, and 37 percent in Iowa. But eight states, including Oregon, saw decreases.
Daren Blomquist of RealtyTrac says you might think that would mean prices also dropped. But in Oregon they jumped 18 percent.
The issue, Blomquist says, is that many people don’t want to put their their homes on the market yet.
“Those homeowners who’ve kind of locked in their homes, they may have regained some equity that they’ve lost over the last seven years. But not enough to the point where they’re willing to go ahead and list their home for sale.”
He says another factor is fewer foreclosed homes are on the market.
The median house price in Oregon is now $230,000. In Washington it’s $239,000.