Friday, May 11, 2007

Market Update…

Just to follow up on PARADE, from the Wall Street Journal (subscription required):

The housing news isn't all grim. Even as prices sag nationwide, there are several cities in the country where home values are climbing smartly. Portland, Ore., Boise, Idaho, Seattle, Salt Lake City, Houston, Austin, and Charlotte and Raleigh, N.C., are among the cities bucking the national trend.

And the trend continues. In the April year over year numbers for the Portland Metro area, though only 1%, unit sales were actually up. Median prices were up 5.8%, average prices 4.1%. All very good: buyer and seller expectations are reaching parity.

HOWEVER: there are 79.5% more active listings now than last year, 11,710 to 6523. That puts pressure on the selling side, and both average and median prices of active listings are down slightly. I think it's possible we'll see a couple months of flat prices – or even slightly down – as the inventory gets cleared.

All that said: Nothing much has changed. Sellers – at least most sellers – are bringing down their prices to reasonable levels. Buyers are realizing value when they see it. Prices are still local.

Ahem: Consult your agent!

1 comment:

Richard Jennings said...

you can get free access to those articles and other subscription content with a free netpass from

That is on the cover of PC world Magazine