Home sales in the Portland Area continues to show improvement. Home sales have increased 4% this past year, while the number of homes for sale has decreased by more than 25%! Read my summary below to see how this may benefit you.
Click Here to view some Portland Real Estate Statistics produced by our Multiple Listing Service.
In Summary:
The number of Portland Area homes Sold in 2011 increased 4% from the year earlier, and has surpassed 2008 and 2009 with a similar margin. This is good news especially considering the years earlier had included tax credit incentives that substantially bumped sales activity. The average cost of a home in Portland is currently $263,300 – equivalent to the average price of a Portland home in 2004-05.
There are currently 8,612 Portland Area homes up for Sale. This is a substantial decrease from a peak of over 18,200 homes for sale in the summer of 2008. Portland Home Values will likely increase if this inventory reduces further in 2012.
Homes that are located well and priced to attract a buyer are selling quickly and sometimes with multiple offers.
2012 Home Sales: Positives on Many Fronts
by Robert Freedman, January 3, 2012.
The National Association of Realtors (NAR) released its latest pending home sales index figure last week and for the second month in a row the index is up. But more than that, the index has broken 100. This is significant because the only time since the housing boom collapsed that the index has broken 100 is when the home owner tax credit was in effect. The fact that the index has returned to that level a year since the credit has been in effect means the housing market is strengthening completely on its own, without any stimulus.
NAR Chief Economist Lawrence Yun is upbeat about 2012 because in a number of areas indicators are pointing upward. Not only are home sales up but housing starts are up and home prices are stabilizing in many markets and heading up in some. In areas where they’re still down, the declines aren’t that great. More fundamentally, broader U.S. economic signs are looking positive, including the all-important jobs picture. About 100,000 job are being created a month, and that could rise to 150,000—still not a quick enough pace to get us back to where we were before the downturn but the headwinds are in the right direction.
Homes are affordable and there are great investor opportunities. First-time buyers can find quality homes priced around $200,000. Higher-end homes are affordable to middle-income wage earners. And, Mortgage Interest Rates are still at 4%!
Do you know someone looking to buy or sell a home? Please have them call me.
Darin Provost
503-784-7626
Wednesday, January 18, 2012
Friday, November 18, 2011
Home sales in the Portland Area grew almost 14% in October from last year. This has been a trend for the summer and is combined with a substantial decrease in the number of homes placed up for sale. Read my summary below to see how this may benefit you.
Click Here to view some Portland Real Estate Statistics produced by our Multiple Listing Service.
In Summary:
The number of Portland Area homes Sold in October increased 14% as compared to 2010. This combined with a substantial drop in the inventory of homes For Sale is great news for Portland Home Values. There are currently 10,012 homes up for Sale – a substantial decrease from a peak of over 18,200 homes in the summer of 2008. Back then, it was a difficult time for home sellers to compete with 18,000 homes for sale, and home buyers were overwhelmed and uncertain with pricing about a third higher than it is today. Portland Home Values will likely increase if this inventory reduces further in 2011-2012.
The average cost of a home in Portland is currently $263,700 – up almost 6% from the start of the year. Homes that are located well and priced to attract a buyer are selling quickly with multiple offers.
Housing Investment for the Long Haul
by Lawrence Yun, Chief Economist National Realtors Association
Home prices took a rough ride in the past decade. The past 10 years were an anomaly fueled by easy credit availability. Those days are over – and for the better. Most Americans believe in hard work (and not easy credit) before being able to enjoy the fruits of their labor.
The chart below shows the long historical trend in median prices of a single-family home in the U.S. A typical buyer purchased a $23,000 home back in 1970. The monthly mortgage payment on that home, assuming a 5 percent down payment, would have been $153 per month for 30 years. So a homeowner who did not do a cash-out refinance would have paid off their mortgage by the year 2000. So imagine no further rent or mortgage payments. Currently in America there about 25 million homeowners who own their homes free-and-clear.
On top of no mortgage payments, the median price of a home in 2000 was $143,000. This is something a person could bequeath to their loved ones when the time arrives or even use for charity donations: the fruits of one’s lifetime labor being put to a good use.
Home prices took a rough ride in the past decade, it’s true. But let’s not forget about the very basic and long-term benefits of homeownership for those who are willing to stay well within their financial capacity.
Homes are affordable and there are fantastic investor opportunities. First-time buyers can find quality homes priced around $200,000. Higher-end homes are affordable to middle-income wage earners. And, Mortgage Interest Rates are BELOW 4%!
Do you know someone looking to buy or sell a home? Please have them call me at 503-784-7626.
Click Here to view some Portland Real Estate Statistics produced by our Multiple Listing Service.
In Summary:
The number of Portland Area homes Sold in October increased 14% as compared to 2010. This combined with a substantial drop in the inventory of homes For Sale is great news for Portland Home Values. There are currently 10,012 homes up for Sale – a substantial decrease from a peak of over 18,200 homes in the summer of 2008. Back then, it was a difficult time for home sellers to compete with 18,000 homes for sale, and home buyers were overwhelmed and uncertain with pricing about a third higher than it is today. Portland Home Values will likely increase if this inventory reduces further in 2011-2012.
The average cost of a home in Portland is currently $263,700 – up almost 6% from the start of the year. Homes that are located well and priced to attract a buyer are selling quickly with multiple offers.
Housing Investment for the Long Haul
by Lawrence Yun, Chief Economist National Realtors Association
Home prices took a rough ride in the past decade. The past 10 years were an anomaly fueled by easy credit availability. Those days are over – and for the better. Most Americans believe in hard work (and not easy credit) before being able to enjoy the fruits of their labor.
The chart below shows the long historical trend in median prices of a single-family home in the U.S. A typical buyer purchased a $23,000 home back in 1970. The monthly mortgage payment on that home, assuming a 5 percent down payment, would have been $153 per month for 30 years. So a homeowner who did not do a cash-out refinance would have paid off their mortgage by the year 2000. So imagine no further rent or mortgage payments. Currently in America there about 25 million homeowners who own their homes free-and-clear.
On top of no mortgage payments, the median price of a home in 2000 was $143,000. This is something a person could bequeath to their loved ones when the time arrives or even use for charity donations: the fruits of one’s lifetime labor being put to a good use.
Home prices took a rough ride in the past decade, it’s true. But let’s not forget about the very basic and long-term benefits of homeownership for those who are willing to stay well within their financial capacity.
Homes are affordable and there are fantastic investor opportunities. First-time buyers can find quality homes priced around $200,000. Higher-end homes are affordable to middle-income wage earners. And, Mortgage Interest Rates are BELOW 4%!
Do you know someone looking to buy or sell a home? Please have them call me at 503-784-7626.
Darin
Wednesday, October 5, 2011
Home sales in the Portland Metro Area grew almost 31% in August from last year. This has been a trend for the summer and is combined with a decrease in the number of homes placed up for sale. Read my summary below to see how this may benefit you.
Click Here to view some Portland Real Estate Statistics produced by our Multiple Listing Service.
In Summary:
Home sales increased 31% in August as compared to 2010. This a great news for Portland Home Values. The number of homes sold in Portland has steadily increased over the past 3 years indicating the market is stabilizing and Portland Home Values are beginning to rise. The average cost of a home in Portland is currently $271,800 – up almost 11% from 6 months ago.
Homes that are priced to attract a buyer are selling quickly with multiple offers.
National Home Prices continue to show seasonal strength according to the S&P/Case-Shiller Home Price Indices. U.S. home prices have shown a four consecutive months of increases. “With July’s data we are seeing not only anticipated monthly increases, but some fairly broad improvement in the annual rates of change in home prices,” says David M. Blitzer, Chairman of the Index Committee at S&P Indices. “This is still a seasonal period of stronger demand for houses, so monthly price increases are expected. The exceptions were Las Vegas and Phoenix where prices fell, while Denver was flat. The better news is that a majority cities saw their annual rates of change improve in July.
Homes Are Affordable. First-time buyers can find quality homes priced around $200,000. Higher-end homes are affordable to middle-income wage earners. And, it’s a great time to buy investment properties.
Mortgage Interest Rates are BELOW 4%!
Want to get rid of that Cable TV Bill? (the link is safe) - Click Here
Do you know someone looking to buy or sell a home? Please have them call me at 503-784-7626.
Darin
Click Here to view some Portland Real Estate Statistics produced by our Multiple Listing Service.
In Summary:
Home sales increased 31% in August as compared to 2010. This a great news for Portland Home Values. The number of homes sold in Portland has steadily increased over the past 3 years indicating the market is stabilizing and Portland Home Values are beginning to rise. The average cost of a home in Portland is currently $271,800 – up almost 11% from 6 months ago.
Homes that are priced to attract a buyer are selling quickly with multiple offers.
National Home Prices continue to show seasonal strength according to the S&P/Case-Shiller Home Price Indices. U.S. home prices have shown a four consecutive months of increases. “With July’s data we are seeing not only anticipated monthly increases, but some fairly broad improvement in the annual rates of change in home prices,” says David M. Blitzer, Chairman of the Index Committee at S&P Indices. “This is still a seasonal period of stronger demand for houses, so monthly price increases are expected. The exceptions were Las Vegas and Phoenix where prices fell, while Denver was flat. The better news is that a majority cities saw their annual rates of change improve in July.
Homes Are Affordable. First-time buyers can find quality homes priced around $200,000. Higher-end homes are affordable to middle-income wage earners. And, it’s a great time to buy investment properties.
Mortgage Interest Rates are BELOW 4%!
Want to get rid of that Cable TV Bill? (the link is safe) - Click Here
Do you know someone looking to buy or sell a home? Please have them call me at 503-784-7626.
Darin
Thursday, August 25, 2011
Home sales were up 21% in July! Fantastic news combined with a decrease in the number of homes placed up for sale by 27%. Read my summary below to see how these trends may benefit you.
Also, Click Here to view some Portland Real Estate Statistics produced by our Multiple Listing Service.
In Summary:
Home sales increased 21% in July as compared to 2010. This a great news for Portland Home Values. The inventory of homes for sale has also hit the lowest level since July 2007 further indicating the market is stabilizing. Portland Home Values should increase if this inventory reduces further in 2011.
The average sales price of a home in Portland is currently $275,100 – an increase of 3% from last month. Homes that are priced to attract a buyer are selling quickly. We currently have homes in inner-SE and NE neighborhoods selling with multiple offers.
Just four years ago the average price of a Portland home had peaked over $350,000! Much of that gain has been reduced, though you can see in the graph below the average sale price has spiked this year between January and July by just over 12%.
Homes Are Affordable Again. First-time buyers can find quality homes priced around $200,000. Higher-end homes are affordable to middle-income wage earners. And, it is a great time to buy investment properties…as there as some deeply discounted prices!
Mortgage Interest Rates are BELOW 5%.
Click Here to see the Top 8 Great Car Values for a Mid-Life Crisis? (the link is safe)
Do you know someone looking to buy or sell a home? Please have them call me.
Darin
Also, Click Here to view some Portland Real Estate Statistics produced by our Multiple Listing Service.
In Summary:
Home sales increased 21% in July as compared to 2010. This a great news for Portland Home Values. The inventory of homes for sale has also hit the lowest level since July 2007 further indicating the market is stabilizing. Portland Home Values should increase if this inventory reduces further in 2011.
The average sales price of a home in Portland is currently $275,100 – an increase of 3% from last month. Homes that are priced to attract a buyer are selling quickly. We currently have homes in inner-SE and NE neighborhoods selling with multiple offers.
Just four years ago the average price of a Portland home had peaked over $350,000! Much of that gain has been reduced, though you can see in the graph below the average sale price has spiked this year between January and July by just over 12%.
Homes Are Affordable Again. First-time buyers can find quality homes priced around $200,000. Higher-end homes are affordable to middle-income wage earners. And, it is a great time to buy investment properties…as there as some deeply discounted prices!
Mortgage Interest Rates are BELOW 5%.
Click Here to see the Top 8 Great Car Values for a Mid-Life Crisis? (the link is safe)
Do you know someone looking to buy or sell a home? Please have them call me.
Darin
Wednesday, July 20, 2011
Home sales were up 12% in June!
That’s NO RAIN ON THIS PARADE. (…I’ll keep the rain jokes to a minimum)
Click Here to view some Portland Real Estate Statistics produced by our Multiple Listing Servie.
In Summary:
Pending home sales increased 12% in June from the month prior, and almost 24% compared to 2010. This a great news for Portland Home Values. The inventory of homes for sale also hit the lowest level since July 2007 further indicating the market is stabilizing. There are currently 11,817 homes on the market in the Portland metro area – a substantial decrease from a peak of over 18,200 homes in the summer of 2008. Portland Home Values will likely increase if this inventory reduces further in 2011.
The average sales price of a home in Portland is currently $260,000 – a decrease of 7.8% from last year (humbug). However, the average sales price increased by almost 2% in June with the spike in buying activity and stabilizing supply of homes for sale. Homes that are priced to attract a buyer are selling quickly. We currently have inner-SE and NE neighborhoods selling quickly with multiple offers as it seems everyone wants to live there, pricing is affordable again, and the inventory of homes for sale has dropped considerably.
Just four years ago the average price of a Portland home had peaked over $350,000! Homes Are Affordable Again. First-time buyers can find quality homes priced around $200,000. Higher-end homes are affordable to middle-income wage earners. And, it is a great time to buy investment properties!
Mortgage Interest Rates are below 5%.
Click Here for 10 Easy Energy-Efficient Fixes at Home.
Do you know someone looking to buy or sell a home? Please have them call me.
Darin Provost
503-784-7626
That’s NO RAIN ON THIS PARADE. (…I’ll keep the rain jokes to a minimum)
Click Here to view some Portland Real Estate Statistics produced by our Multiple Listing Servie.
In Summary:
Pending home sales increased 12% in June from the month prior, and almost 24% compared to 2010. This a great news for Portland Home Values. The inventory of homes for sale also hit the lowest level since July 2007 further indicating the market is stabilizing. There are currently 11,817 homes on the market in the Portland metro area – a substantial decrease from a peak of over 18,200 homes in the summer of 2008. Portland Home Values will likely increase if this inventory reduces further in 2011.
The average sales price of a home in Portland is currently $260,000 – a decrease of 7.8% from last year (humbug). However, the average sales price increased by almost 2% in June with the spike in buying activity and stabilizing supply of homes for sale. Homes that are priced to attract a buyer are selling quickly. We currently have inner-SE and NE neighborhoods selling quickly with multiple offers as it seems everyone wants to live there, pricing is affordable again, and the inventory of homes for sale has dropped considerably.
Just four years ago the average price of a Portland home had peaked over $350,000! Homes Are Affordable Again. First-time buyers can find quality homes priced around $200,000. Higher-end homes are affordable to middle-income wage earners. And, it is a great time to buy investment properties!
Mortgage Interest Rates are below 5%.
Click Here for 10 Easy Energy-Efficient Fixes at Home.
Do you know someone looking to buy or sell a home? Please have them call me.
Darin Provost
503-784-7626
Monday, June 20, 2011
The Oregonian said today “Portland had its second wettest Spring in 117 years.” Glad that’s behind us! Summer officially begins this week and the forecast is looking sunny!
Click Here for some Portland Real Estate Statistics produced by our Multiple Listing Service.
In Summary:
There are currently 11,825 homes “For Sale” in the Portland Metro Area – a very slight increase from last month. This is great news as the number of homes For Sale typically rises substantially in May. The number of homes For Sale is stabilizing and has decreased from a peak of over 18,200 homes in the summer of 2008 (imagine trying to sell your house for a peak price with 18,200 others to compete with…). Portland Home Values will likely increase if this inventory decreases further in 2011. We currently have inner-SE and NE neighborhoods selling quickly with multiple offers as it seems everyone wants to live there, pricing is affordable again, and the inventory of homes for sale has dropped considerably.
Nationally, home prices rose last year by 1.3 percent according to the Case-Shiller index. This modest gain is a reprieve considering prices fell about 30 percent from 2006 to 2009. Last year’s demand arose from a home buyer tax credit, and economists are hoping this year’s demand will come from improving job market conditions. The latest jobs figures show that a seasonally adjusted 783,000 jobs were created in the first five months of this year. This is positive news.
The average sales price of a home in Portland is currently $258,300. Just four years ago the average price had peaked over $350,000! Homes Are Affordable Again. First-time buyers can find quality homes priced below $200,000. High-end homes and condos are affordable to middle-income wage earners. And, it is a great time to buy investment properties!
Mortgage Interest Rates are once again below 5%!
Something Cool - Want to see what kind of home $300,000 will buy you around the world? Check this out (the link is safe) - http://kiplinger.com/slideshow/international-housing-300K/1.html#top
Do you know someone looking to buy or sell a home? Please have them call me.
Darin Provost
503-784-7626
Click Here for some Portland Real Estate Statistics produced by our Multiple Listing Service.
In Summary:
There are currently 11,825 homes “For Sale” in the Portland Metro Area – a very slight increase from last month. This is great news as the number of homes For Sale typically rises substantially in May. The number of homes For Sale is stabilizing and has decreased from a peak of over 18,200 homes in the summer of 2008 (imagine trying to sell your house for a peak price with 18,200 others to compete with…). Portland Home Values will likely increase if this inventory decreases further in 2011. We currently have inner-SE and NE neighborhoods selling quickly with multiple offers as it seems everyone wants to live there, pricing is affordable again, and the inventory of homes for sale has dropped considerably.
Nationally, home prices rose last year by 1.3 percent according to the Case-Shiller index. This modest gain is a reprieve considering prices fell about 30 percent from 2006 to 2009. Last year’s demand arose from a home buyer tax credit, and economists are hoping this year’s demand will come from improving job market conditions. The latest jobs figures show that a seasonally adjusted 783,000 jobs were created in the first five months of this year. This is positive news.
The average sales price of a home in Portland is currently $258,300. Just four years ago the average price had peaked over $350,000! Homes Are Affordable Again. First-time buyers can find quality homes priced below $200,000. High-end homes and condos are affordable to middle-income wage earners. And, it is a great time to buy investment properties!
Mortgage Interest Rates are once again below 5%!
Something Cool - Want to see what kind of home $300,000 will buy you around the world? Check this out (the link is safe) - http://kiplinger.com/slideshow/international-housing-300K/1.html#top
Do you know someone looking to buy or sell a home? Please have them call me.
Darin Provost
503-784-7626
Friday, November 13, 2009
Pending Home Sales Rise for Record Eight Straight Months
Pending home sales rose again, marking eight consecutive monthly gains – the longest streak since measurement began in 2001, according to the National Association of Realtors®. The Pending Home Sales Index rose 6.1 percent to 110.1 from a reading of 103.8 in August, and is 21.2 percent higher than September 2008 when it stood at 90.9. The gain from a year ago is the largest annual increase on record, and the index is at the highest level since December 2006 when it was 112.8. Lawrence Yun, NAR chief economist, said the momentum is understandable. “What we’re witnessing is a rush of first-time buyers trying to beat the expiration of the tax credit at the end of this month,” he said. “Home values will stabilize sooner rather than over-correcting. That, in turn, will mean wealth stabilization for the vast number of middle-class families and lay the foundation for a durable economic recovery.”
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