U.S. home prices rose 10.5% in March compared with a year ago, and Oregon ranked fifth out of the 50 states with a 14.3% gain.
Core Logic, a real estate data provider, said Tuesday that annual home prices have now increased for 13 straight months. Prices are rising in part because more buyers are bidding on a limited supply of homes for sale.
Rising home prices can help sustain the housing rebound and lift the economy. More potential homebuyers may seek to purchase a house before prices rise further. And homeowners are more likely to put their houses on the market once they expect a good price.
Read more at The Register-Guard.