Archive for February, 2012
February 20th, 2012 | 
Author: by Wendy Culverwell, Portland Business Journal
Portland area homes sold faster in January as prices and the inventory of for-sale properties dropped.
The Regional Multiple Listing Service said Wednesday homes sold in January spent an average of 136 days on the market, down 14.6 percent from the 160 days it took to sell a home a year ago.
At the same time, new listings dropped by 16.5 percent to 2,613, while the average price was relatively unchanged at $249,100 and the median price dropped 3.5 percent to $207.500.
RMLS said there were 1,823 pending sales in January, a 22.4 percent increase, and 1,224 closed sales, an 18.3 percent increase.
There were 8,514 unsold homes in January, enough to satisfy current demand for seven months, a sharp drop from the 11.3-month level posted one year ago and 12.6-month level posted two years ago.
http://www.bizjournals.com/portland/news/2012/02/16/portland-homes-sell-faster-as-price.html?ed=2012-02-16&s=article_du&ana=e_du_pub
by Wendy Culverwell, Portland Business Journal
The latest take on Portland area home prices shows a year-end decline of 2.4 percent in December from a year earlier.
That’s according to figures released Thursday by CoreLogic Inc. CoreLogic Inc. Latest from The Business Journals Birmingham home prices dipped in DecemberMemphis December home prices declined 5.4% from 2010Nashville home prices dip in December Follow this company , a Santa Ana, Calif.-based real estate research firm.
The decline was less sharp when bank-owned and other distressed properties were excluded — 1.4 percent compared to the prior year.
CoreLogic paints a softer portrait of Portland home prices than the Regional Multiple Listing Service. In January, RMLS said the average home sold in December commanded $260,800, a 6.2 percent decline from one year ago.
The two real estate data firms use different methodologies, which could explain the discrepancy. (Read about CoreLogic’s methodology. RMLS uses its own database to determine pricing averages.)
CoreLogic said its national index, including distressed sales, declined 4.7 percent in December compared to the prior year. It is the fifth consecutive year for home price declines, CoreLogic said.
“While overall prices declined by almost 5 percent in 2011, non-distressed prices showed only a small decrease. Until distressed sales in the market recede, we will see continued downward pressure on prices,” said Mark Fleming, CoreLogic’s chief economist.
Distressed sales account for about 15 percent of the Portland home market and 20 percent of the national market.
http://www.bizjournals.com/portland/news/2012/02/02/corelogic-confirms-price-declines-for.html?ed=2012-02-02&s=article_du&ana=e_du_pub
