Portland home prices up 12.8 percent

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Wednesday, July 24, 2013

Home values in the Portland area rose 12.8% over the last year, with a median of $248,300.

But [Zillow] expects metro prices will only gain another 5.2 percent of the next 12 months.

Nationally, home prices have risen 5.8 percent in the past year, and they're expected to gain another 5 percent in the coming 12 months.

"Homeowners are feeling a sense of whiplash after years of depreciation, but this kind of market behavior won’t last," Zillow senior economist Svenja Gudell said. "Investors are starting to pull out of some markets and regular buyers are coming back, and more inventory is slowly but surely coming on line, both of which will contribute to slowdowns in appreciation."

Read more at OregonLive.com.

 

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