Home prices post record rise

Home prices post record rise

Home prices are rising at record rates due to a small supply and slow construction on new homes.

Many homeowners, meanwhile, remain reluctant to put their homes up for sale despite improvements in the housing market. Some are trapped under mortgage debt that a sale couldn’t pay off, while others are waiting for prices to rise further.

But would-be buyers, scarce in years when prices were falling, are now eager to take advantage of historically low interest rates and relatively low home prices. The Portland-area index has fallen 19.7 percent from its bubble peak.

Read more at OregonLive.com.

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