Portland home sales improve

Portland home sales improve

Portland-area home sales activity improved in 2011, but prices continued to decline.

 

Falling values have dogged the housing market, keeping buyers and sellers on the sidelines. Foreclosures and short sales have weighed on market values, and observers are still watching for Portland-area prices to hit bottom. 
The 19,682 Portland-area homes sold in 2011 represent a 4 percent increase compared with 2010, according to the
Regional Multiple Listing Service. But the median price for the year fell 7.9 percent, to $221,000. 
The increase in transactions couldn't outpace the price declines. RMLS reported $5.2 billion in Portland-area home sales in 2011, an 11-year low.

Read more at OregonLive.com.

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