CNN/Money reported today that median home prices have reached a ten year low. They graphed the decline since 2007 on a national basis. We’ve taken their national numbers (sourced from the National Association of Realtors) and added RMLS data for “Portland Metro” and ten of the RMLS areas reported in RMLS Market Action. The median price is the point at which half of homes are sold for a higher price, and half are sold at a lower price. The prices reported are for January of each year. Click on the graph to see the full size version.
Between 2011 and 2012, the NW Portland area (roughly west of NW Skyline and between HWY 26 an HWY 30), was the only area reporting a median price increase.
The article also has a video of how Habitat for Humanity in Florida is turning foreclosures into opportunities for their clients as part of the national Neighborhood Stabilization Program. It’s a departure from their typical model of building new construction homes.