Home prices rise in Portland

Home prices rise in Portland

Home prices rose in Portland in August, a positive sign for the housing market.

Portland-area home prices rose half a percent in August and 3.6 percent compared with the same month a year ago, according to the Standard & Poors/Case-Shiller home price index released Tuesday.

Home sales are up across the country, boosted by low home prices paired with low mortgage interest rates. The effect of foreclosures, meanwhile, has diminished as investors buy up the supply and lenders reduced their portfolio of homes.

Read more at OregonLive.com.

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