The national median home price has dropped 3.5% in the last year according to the National Association of Realtors. Portland? Portland, Oregon real estate prices have increased 13.1% in the same 12 month period according to the newly released S&P/Case-Shiller! Their report tracks 20 cities, not the national market.
In the last couple of weeks, we’ve seen much more real estate activity that we expected. Buyers are returning to the market after a period when it seemed prudent to sit back and watch the market. Some expected depreciation to soften the market and make that dream home more affordable. Since the market has retained its strength, sitting back doesn’t look like a smart bet. Usually people put off real estate during the holidays and start in earnest in the New Year.