Portland-area home prices continue to descend for the third year, and now have reached levels not seen in a decade.
Portland-area home prices continue to descend for the third year, and now have reached levels not seen in a decade.
It’s not news that home prices are falling. They have been in decline since the summer of 2007. But they are now reaching levels veteran brokers thought they’d never see again in their lifetime.
It’s not all that unusual to see some smaller homes available for less than $100,000. Tonia Rhine, a Hasson Co. Realtor in Vancouver, said she has several Clark County properties boasting sub-$100,000 price tags.
“Prices are dropping because people are just trying to get rid of their houses even if they have to go through a short sale,” Rhine said. “It’s not affecting the upper-end as much as the lower-end of the market.”
Read more at OregonLive.com.
{biztweet}Portland real estate{/biztweet}
