Home sales hit bottom in ‘09

Home sales hit bottom in ‘09

Though the worst is probably over for residential real estate, the carnage is still fresh. For 2009, total sales volumes were roughly equivalent to 2002 levels across the state and, compared to 2007, median home values plunged: 15% in the Portland Metro area, 12% in the Mid-Willamette Valley and 41% in Central Oregon, when new and existing U.S. home sales dropped 13% and 21%.

0610_Indicators01