Portland metro home prices up 6.7% in March

person Viola Charlesfolder_openHomeaccess_time May 30, 2018

Portland-area home prices jumped 6.7 percent in March compared with a year earlier, according to the S&P CoreLogic Case-Shiller home price index. Nationally, prices rose 6.5 percent.

Among the 20 cities included in the index, the largest increases were in Seattle (13 percent), Las Vegas (12.4 percent) and San Francisco (11.3 percent). Nine of the other 19 cities saw home prices rise faster than Portland.

After bouncing back from the Great Recession, Portland’s home-price growth took off in 2016, peaking at 12.5 percent annual growth in June 2016. It led the nation in home-price gains for nearly a year before dropping off.

Portland home prices continue to push into record-setting territory. They topped their housing bubble-era peak in August 2015 and have since climbed another 22 percent.

The Case-Shiller home price index uses repeat sales of the same homes to measure changes in values across the market. It’s released as a three-month rolling average.

The median home price in the Portland area was $395,000 in March, according to the Regional Multiple Listing Service. It climbed to $405,000 in April.

— Elliot Njus


Source Article