PORTLAND, Ore. – Thanks
to a recent article from the Portland Business Journal and data from CoreLogic,
we know that the Oregon Real Estate market is among one of the fastest growing
in the nation especially since home prices here increased by 6.3 percent,
year-over-year in the month of May alone.
Up 8 Percent in Last Year
There’s no denying that
Oregon home prices have increased dramatically over the last year but what most
people want to know is by how much?
Home prices in Oregon
have increased by 8 percent in the last year alone and Oregon Real Estate price
appreciation ranks our state as number 5 on a list of the top five states for
price appreciation. The other states on the list include: Colorado, South
Carolina, Washington and Florida.
5 Percent Price Increase Predicted In Next Year
What’s interesting about
the CoreLogic data is that a price increase of 5 percent is predicted for
Oregon homes between May 2015 and May 2016.
Many economists and Real
Estate agents across the country feel that now is a great time to buy a home in
Portland or elsewhere across the United States especially since mortgage
interest rates are still currently near 4 percent and with banks easing their
credit regulations more people are able to afford owning a home.
“Mortgage rates on 30-year fixed-rate loans remained
below 4 percent through May, helping to fuel home-purchase activity,” said
Frank Nothaft, chief economist for CoreLogic in a release. “Our
homes-for-sale listing data shows that markets with high demand and limited
supply, such as San Francisco, are recording double-digit appreciation rates
over the past year.” – Source Bizjournals.com
Learn More about Oregon Real Estate
To learn more about
Oregon Real Estate, including viewing homes for sale in Portland or elsewhere
across Oregon contact us today by calling (503) 595-8800 or CLICK HERE.