State We’re In: Residential real estate still falling


0711_IndicatorsGraph_01Residential real estate is still looking to hit bottom.

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By Research Editor Brandon Sawyer

Residential real estate is still looking to hit bottom: 2010 sales volumes in Portland metro and the Upper Willamette Valley were about half of those in 2005 and sales were down 61% in Central Oregon. In the first quarter of 2011, volumes slipped 6% in the Valley and 0.4% in Central Oregon while in Portland new listings fell 30%, closed sales fell 1.5%, and the median sale price dropped 9.5% to $215,000, below the median for new homes nationwide.

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