RealtyTrac reported the median single-family home price in the Portland area was $268,000 in October — down from $270,000 in September.
RealtyTrac reported the median single-family home price in the Portland area was $268,000 in October — down from $270,000 in September.
A RealtyTrac executive points out that the housing market is driven less by traditional homebuyers and more by investors, and is moving up the price scale.
“As the lower-priced, often distressed inventory most appealing to investors dries up in a given market, investor activity will slow down in that market and move to other markets with more ideal inventory available,” said Daren Blomquist, RealtyTrac vice president, in a prepared statement. He said the house price recovery is rippling from such usual investor markets as Phoenix and California cities to such cities as Charlotte, Oklahoma City and Columbus, Ohio.
Read more at OregonLive.com.
