Tagged : home prices
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Thursday, February 13th, 2014 at 2:57pm. 26001 Views, 3 Comments.
2013 was a year of significant improvements for the Portland real estate market. The number of distressed sales, otherwise known as bank owned or short sales, has significantly dropped over the past year, resulting in fewer “underwater” homes being placed on the market. RMLS reported this month that distressed sales dropped from 28.6% to 15.1%.
Prices in 2013 were also significantly improved in the Portland Metro. RMLS reported a 12.8% increase in the median home price last year for the Portland area. Typically, as the market goes up, the number of distressed homes for sale goes down. This is good news for both sellers and buyers.
We at JMA are thrilled that the market is getting so much healthier. This improvement allows for buyer to search for…