Metro housing recovery still on rise

Metro housing recovery still on rise

The Portland metro area's housing market recovery is nearing pre-recession levels.

Even with very low inventory, sales are up overall. And despite interest rates climbing, the average sales price this year is $310,000, up 14 percent from this time last year.

“As prices rise, one of the positive benefits is that people who have been under water on their mortgages are getting out from under that trap,” said Brian Allen, President of Windermere Real Estate.

Read more at KGW.