Friday, December 23, 2011
Portland homes lost a value of $9.7 billion in 2011, according to a year-end report by Zillow.
The company says the country as a whole lost $681 billion in home value, though a handful of markets showed an net increase in value for the year.
The decline in Portland is less severe than 2010's $14.1 billion decline in home values, or 2008, the year of the region's steepest fall when Portland-area homes lost $21.8 billion in value. Overall, the Portland market has lost $56 billion in home value since 2007, and the housing stock is now worth $170 billion.
Read more at OregonLive.com.