Across the country, home prices have leveled off in major cities, but in Portland they are growing rapidly.
Open Houses this weekend in Portland! http://t.co/1jyH8IQRnk #portlandia #Portland #openHouse #PDX pic.twitter.com/rzYb0y5s9c
— Taylor Group Realty (@TaylorGroupTeam) July 24, 2015
Oregon Live reports:
Home values climbed 1.1 percent from April to May in 20 major cities around the country, new numbers from the Standard & Poor’s/Case-Shiller home price index showed Tuesday. They reached a level 4.9 percent higher than in May 2014.
In Portland, home prices were up 1.4 percent in May, reaching a level 7.4 percent higher than a year ago. Of the 20 cities included in the survey, only Denver, Dallas, Miami, San Diego and San Francisco saw larger year-over-year increases.
The Case-Shiller index uses repeat sales of the same property to measure changes in home values over time. Each month’s data uses a three-month rolling average, and it’s released on a two-month delay.
The median price for a home sold in Portland was $313,000 in May, according to the Regional Multiple Listing Service. It rose to $320,000 in June.