NW states represent highest spike in home prices


Oregon, Washington rank in the top-five for fastest-increasing home prices.

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BY JACOB PALMER | DIGITAL NEWS EDITOR

A recent study by CoreLogic revealed Oregon and Washington are in the top five for fastest-increasing home prices.

Prices increased 6.3 percent nationwide in May. In Oregon, the rate was 7.9 percent, placing it behind just South Carolina, Colorado, Florida and Washington.

“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.”

In the Portland metro region, home prices, including distressed sales, increased by 8.4 percent in May 2015 compared with May 2014. On a month-over-month basis, home prices, including distressed sales, increased by 2.2 percent in May 2015 compared with April 2015.

(SOURCE: Portland Business Journal)

Home prices have been increasing for more than three years (39 months) straight.

 




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