Portland hit the highest annual home value gains for third straight month in December.
Portland-area home prices in December increased 11.4 percent year-over-year, more than San Francisco’s 10.3 percent gains and Denver’s increase of 10.2 percent. The trio of cities have sat atop the 20-city index for months; Portland jumped into a three-way tie for annual gains in October and claimed the highest year-over-year increases when November’s numbers were released.
The monthly report is the latest in a steady stream of reminders that Portland’s housing market was red-hot in 2015, a year marked by rising prices and low inventory.
‘Higher prices in these markets [Portland, San Francisco and Denver] should help increase inventory headed into 2016, but at the same time push some homes out of reach for buyers,’ said Ralph McLaughlin, chief economist at Trulia, in an email.
(READ MORE: Oregon Live)
The OB’s recent Hot Topics/Cool Talks event invited conversation about the Portland housing crisis and rental affordability, February 23. Read the recap, “Business called on to help address affordable housing crisis.”