The cost of homes for sale in Oregon’s largest city increased 1.1% between July and August.
BY JACOB PALMER | DIGITAL NEWS EDITOR
The cost of homes for sale in Oregon’s largest city increased 1.1% between July and August.
That puts the Portland metro area ahead of every other in the country for fastest rising home prices, according to the Standard & Poor’s/Case-Shiller home price index.
Portland home prices also posted annual gains at the third-fastest rate of the 20 metro areas surveyed, at 9.4 percent. Only San Francisco and Denver had bigger year-over-year gains, at 10.7 percent each.
Nationally, prices increased by 4.7 percent year-over-year and 0.3 percent between July and August.
Bill Banfield, vice president at mortgage lender Quicken Loans, said in an emailed statement that the “small pool of available homes on the market has continued to push prices higher.”
(SOURCE: OregonLive.com)
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