Home prices inch back up

Portland-area home prices are making a slow comeback with the first quarterly increase in three years.

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Home prices in the Portland area had an unexpected increase in the second quarter, making some in the industry optimistic about the state of the business.

Oregon real estate experts say activity is definitely up in recent months. “Our volume so far in August 2009 is exceeding August 2008 and our commissions generated are also greater,” said Mike Hasson, of The Hasson Co., one of the Portland region’s largest real estate companies. “That’s the first time this year we could say that.”

Eric Wiley, of Pacific Residential Mortgage in Lake Oswego, attributed the surge in activity in part to sellers’ sometimes grudging acceptance of lower real estate prices.

Read the full story at OregonLive.com.

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