Mar. 12, 2008 - Portland New Construction in January 2008
Surprisingly, sales of new construction in Portland, Oregon, for January 2008, increased 6% when compared to 2007 (5,370 versus 5,045). This is an unlikely bright spot in the Portland real estate market, which is facing record high inventory levels. Better yet, the median sale price also increased 6% ($387,200 versus $300,000). Hopefully this represents a positive omen for 2008, and a sign of strong fundamentals in the local market, which to date has not followed the trends of declining prices at the national level.
Source: RMLS Market Action Report, January 2008.
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