Portland Real Estate Market News

Portland Real Estate Market

Our local Portland real estate market is always changing. It takes a very busy real estate agent, top 1% in Portland, to keep a finger on its pulse. We write Portland housing market forecasts twice a year, an annual best month of the year to sell or buy a home article, population growth articles, Portland development articles, articles on real estate market trends, housing affordability, and much more. Enjoy!

Portland Real Estate Market Podcast

top portland neighborhoods

Top Portland Neighborhoods for 2013 (part 1)

December 26, 2012

With 95 neighborhoods, the city of Portland has a place for everyone – seniors, families, first-time home buyers, and anyone looking for the convenience of urban life with the safety and familiarity of a good neighborhood. In 2012, we saw the Portland real estate market begin to pick up again, making 2013 the perfect year to invest in a home. Foreclosed properties and short sales continue to come on the market, and the savvy buyer might just find a screaming deal this year. Where are the great properties? All over the Portland, area, really. Young professionals continue to flood into the Pearl district and are starting to move into new developments in the south Waterfront and in North Portland. Southeast...


real estate inventory

Taking Inventory of the Portland Real Estate Market

December 3, 2012

The real estate industry keeps track of how it’s doing in funny ways. Mortgages are always going above or below water, but they never seem to get soggy. The real estate blogs are constantly searching for the mysterious “bottom of the market” (it must be down here somewhere!) Then there are the economic factors we like to pay attention to, the bulls and bears and consumer confidence indexes. Inventory is one of those head-scratchers in the real estate biz. To give an estimate of how the market is doing, it measures something that would never actually happen: Every homeowner decides they never want to move again and no new homes come on the market. In that case, how long would...


real estate maeket

Strong August Real Estate Numbers for Portland, U.S.

September 25, 2012

August’s home sales in the Portland area were the strongest in five years, according the Market Action report published by the RMLS last week. Home prices are also on the rise in Portland and across the US, a piece of good news that prompted coverage by the Associated Press and the Oregonian and gave hope to underwater mortgage holders. Does this month indicate that the housing market will soon recover to pre-recession levels? Nobody knows, but a closer look at the numbers will help Portland home buyers and sellers decide what their next steps will be. Last month, 2,311 homes were sold in the Portland metro area, which is a new record since 2007, before the housing market fell. High...


rent or own portland

Buy vs. Rent in Portland, How Long to Break Even?

August 7, 2012

According to a recent Zillow report the average time it takes to break even buying a home verses renting a home in the Portland metro area is 3.5 years. Depending on the neighborhood, it could take as long as 5 years or as short as 1.5 years. Ask your Portland Real Estate Agent which Portland neighborhood will give you a quicker return. Zillow took into account all the costs of renting including utilities and deposits and contrasted that with the costs of Portland homeownership including down payment, taxes, maintenance, utilities and more. Zillow also adjusted for future rent increases and future Portland home valuations. To summarize, it is a great financial idea to buy a Portland home if you are...


portland home prices

Portland Home Prices Rise, Zillow says 4.3% Higher 2013

August 1, 2012

For the first time since the housing market crash prices have risen nationally from one quarter to the next, in this case, from the first quarter of 2012 to the second. Nationally that rise barely occurred, .02%. In Portland we are looking at a 6% increase in the housing market this year. However, last fall and winter prices dropped in Portland over 10-12% and so from year to year homes are still cheaper in Portland than in 2011. Is this the beginning of a housing turn in Portland? Zillow thinks so and is forecasting a 4.3% increase in Portland housing prices in 2013. Other analysts are less optimistic pointing to an ongoing shadow inventory of foreclosed homes that have yet...


top websites for real estate

Top 4 Real Estate Websites: Zillow, Trulia, Yahoo, & Realtor

July 31, 2012

Continuing their dominance, Zillow, Trulia, Yahoo, and Realtor.com round out the top four used real estate websites, according to HitWize. For those who are unaware, Zillow powers Yahoo’s real estate sites making Zillow as a program both first and third. Realtor.com has slowly slipped from the top spot, but remains number one in a number of other important categories, like time on site. As a local Portland Realtor, my suggestion is to use Realtor.com, or my Portland home search program. While Zillow continues to be the most popular it also has the worst data. Homes shown as active on Zillow may have expired or sold months or even years prior. Trulia maintains a better data program, but still suffers from...


portland real estate market

Portland Home Sales, Prices on the Rise

July 23, 2012

Good news for Portland home sellers: Prices may not be what they were before the housing bubble burst, but they are getting better. Compared to last year, the number of homes sold in the Portland metro area has also risen, shrinking the inventory of unsold homes. The most recent Portland RMLS report, which describes the state of the housing market in June 2012 compared with previous months and years, showed an 8.6% rise in the median sales price over the past 12 months. Still, we’re not at peak 2007 prices, which averaged $355,000 for a Portland home. Now, the average price is $285,000, but that’s after three solid months of improvement. Realtor.com, which publishes national real estate news, also found...


short sale assistance for military

New Short Sale Assistance for Portland Military Homeowners

June 30, 2012

New Frannie Mae and Freddie Mac policies will make it easier for military homeowners to short sale their homes when they must move because of a change in station. The Federal Housing Finance Agency announced June 21 that Fannie Mae and Freddie Mac will no longer be permitted to pursue a deficiency judgment, promissory note or any cash contribution from members of the military who have negotiated a short sale for their home. In Portland, short sales have taken off this year, and with recent federal regulations that have sped up the short sale process, more and more people are choosing this foreclosure alternative. In 2011, short sales made up 11% of all Portland home sales, up 2% from the...


real estate market recovery

Real Estate Market Confirms Slow Economic Recovery

May 21, 2012

Tracking the economy as it theoretically recovers from the recession is a tricky process. Jobless rates, consumer spending, home prices, imports and exports – each number can give a different report of what the economy is like, from sunny to downright pessimistic. University of Oregon professor of economics Tim Duy puts together an index, the UO Index of Economic Indicators, that pieces together these numbers to give an overall picture of how the economy is doing. His most recent report, released this week, says that Oregon’s economy is continuing to grow, slowly but steadily, in 2012. The index rose 3.6% as of March this year, and consumer sentiment is one of the indicators largely responsible for this gain, according to...


When will Portland sell through its Shadow Inventory?

May 16, 2012

According to Standard and Poor’s first quarter 2012 data, it will take Portland and the country 3.8 years or about 46 months to sell through all of the distressed properties waiting to come out on the real estate market. S&P is counting all the shadow inventory, the number of homes with mortgage payments that are 90 days or more delinquent (many short sales) and those properties already in foreclosure. As for active foreclosures, Portland would sell through its inventory in about 19 months according to RealtyTrac, but this does not include properties currently behind in their mortgage payments. According to CoreLogic, 5.5% of Portland is behind on its mortgage payments. What does this mean for the Portland real estate market?...