Portland home values down 2.2 percent

March 7, 2012 by · Leave a Comment
Filed under: Real Estate News 

Interesting fact that just a tad bit over 20% of the Portland, Oregon real estate market is made of up Real Estate Owned properties.   Real estate prices overall are down around a third from the 2007 peak.

Business Journal (Portland) – Portland area home prices lost 2.2 percent in value over the year that ended in February, mirroring a national trend that a California data researcher finds compelling.

While local and national prices remain one-third below the 2007 peak, the modest declines of 2011 came against rising foreclosure rates. That signals the market could be stabilizing, Clear Capital , a Truckee, Calif.-based data research firm, said Tuesday.

Clear Capital found Portland area home values fell an average of 2.4 percent on a year-to-year comparison but were actually up a modest 0.2 percent compared to the prior quarter. According to the most recent data from the Regional Multiple Listings Service, the average sale price of a Portland home was $249,100 in January.

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