17Aug 2011 by admin

Fewer New Homes Built

economy, Portland Home Values
National Housing Update July marked a slowing of construction of new homes; dropping from already low levels. The Commerce Dept. stated on Tuesday that housing starts were down by 1.5% to an annual volume of only 604,000 units (seasonally adjusted). It should be noted that this was in line with Commerce Dept. estimates. The current rate of 604,000 annual units is roughly fifty percent of what economists claim is necessary to maintain a healthy housing market. Housing Recovery Not Picking Up "There is still no sign yet of a pickup in housing," says Patrick Newport (economist at IHS Global Insight as quoted on MSNBC News). With weak employment cited as a major contributing factor for housing lackluster performance. Distressed properties like short sales and Foreclosures are lowering demand for new…
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19Jun 2010 by admin

Listings Throughout Metro Area

Portland Real Estate Market
Days on Market For Single Family Residences Metro Area Market Action News report. Today we will examine graphs of how long houses in Portland Oregon stay on the market. This gives us an idea of the strength of the economy because active listings going fast shows that many buyers are interested in and able to make purchases. Sellers are also very interested in how long it will take for someone to buy their property, trying to balance a quick transaction with getting a good price. As market-savvy Realtors, we take these factors into account when we do a Competitive Market Analysis for homes in and around Portland. [caption id="attachment_506" align="aligncenter" width="577" caption="Graph of the average days that listings in Portland Metro remain active on the market"][/caption] The Economic Recovery and…
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18Jun 2010 by admin

Closed Deals | Economy and Housing Sector

Portland Real Estate Market
Closed Real Estate Deals in Portland Oregon Today we're sharing some of our valuable housing market data with the public. This information is usually only available to industry professionals but we want to make sure our clients are well-informed and up to date on this ever-changing landscape that is the Local Housing Market. This data is derived from the RMLS market report from May, 2010 and shows all sorts of interesting facts about Portland Real Estate Listings and More! [caption id="attachment_494" align="aligncenter" width="581" caption="Closed Deals And the Residential Housing Sector"][/caption] When we compared January-May 2010 with the same period in 2009, we found that closed transactions increased 42.7%. Pending deals also rose by 28.3% and new listings went up 10.4%. See the graphs and visual aids below and don't forget…
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17Jun 2010 by admin

Residential Property Value | Month to Month Comparision

Portland Real Estate Market
During recent weeks we have seen closed transactions in addition to pending deals have both improved substantially. The many value-priced Portland Short Sales have no doubt added some fuel to the fire when looking at homes for sale. These factors on home values have even more impact when considered with the lowering of average and median closed price of recent economic trends. Closed deals in the month of May have expanded exponentially by over 47% when compared to May of 2009. The numbers say that conditions have improved and prices are certainly better than ever in these trying times. So, with attractive prices combined with stellar interest rates, many investors as well as first time home buyers are buying into residential real estate short sales and foreclosures. [caption id="attachment_482" align="aligncenter"…
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