Portland-area home sales activity improved in 2011, but prices continued to decline.
Portland-area home sales activity improved in 2011, but prices continued to decline.
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Falling values have dogged the housing market, keeping buyers and sellers on the sidelines. Foreclosures and short sales have weighed on market values, and observers are still watching for Portland-area prices to hit bottom.Â
The 19,682 Portland-area homes sold in 2011 represent a 4 percent increase compared with 2010, according to the
Regional Multiple Listing Service. But the median price for the year fell 7.9 percent, to $221,000.Â
The increase in transactions couldn’t outpace the price declines. RMLS reported $5.2 billion in Portland-area home sales in 2011, an 11-year low.
Read more at OregonLive.com.
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