Wednesday, August 29, 2007

Twenty Year Trend: Portland vis-a-vis the US

The NY Times has an interactive graph displaying a twenty year growth trend – both actual and inflation adjusted – in housing prices for nineteen US markets. See here. [Thanks to Dave Koch of RE/MAX for the link.]

For the moaners among us – and I catch myself in that category occasionally – it’s eye opening, and comforting. With the exception of Atlanta, which is missing five years of initial data, Portland is the only market that hasn’t experienced a quarterly downturn in actual growth. We haven’t experienced the wild peaks and valleys of, say, a Phoenix or Las Vegas, and Portland and Seattle remain among the most healthy real estate markets in the United States.

That’s not to say it can’t happen; in August inventories continue to climb and sales slide. But even with that both the average and median prices are up considerably across the broad metro area.

The fundamentals remain strong.


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