Home prices continued to rise in August in Portland.
But as the summer selling season comes to an end, home prices are expected to dip during the winter months to be followed by a more moderate rate of appreciation.
"August marked the end of one of the hottest summer home shopping seasons in years, as home value appreciation rates continued their rocket ride upward – perhaps dangerously so in some metro areas," said Stan Humphries, Zillow's chief economist. "Double-digit appreciation rates do help to lift homeowners out of negative equity and to entice sellers into a low-inventory environment, but this rapid growth is not normal and cannot and should not be expected to last."
Read more at OregonLive.com.