Portland-area homes worth $216.7B

Portland-area homes worth $216.7B

The entire Portland-area housing stock was $216.7 billion in 2013.

That’s up $22.8 billion from a year ago, an increase represents rising home prices as well as new construction. Zillow, which uses public records and home sales data to estimate homes’ values, said cumulative home values in Portland rose $10.8 million in 2012 compared with 2011.

Home prices climbed nationwide this year against a backdrop of low mortgage rates and a general economic recovery.

Read more at OregonLive.com.