Portland Realtors: Fall Update
Portland Real Estate Report: Plateau... Or Just Platitudes? In summary, home values in Portland, Oregon are being described as "hovering" at the moment. Various articles and Portland Realtors commenting on the local housing market have used terms like "plateau", "flattened" and even the somewhat ominous word "cooling" to describe our current conditions. The graph below shows that median prices hit highs at/near $550,000- in the spring of 2016 but have tapered off to our current median price of $499,700-. Recession has become a zeitgeist and the subject of scary campfire stories ever since 2008. Nonetheless, economic contractions remain a recurring certainty and a predictable part of all economies. -Richard E Lockwood Real estate agents note that this settling in prices may be due to our city's tradition of the market…