In the months of July and August 2012, home prices have increased by 4.5% in the Portland metro area. 3.2% increase nationally from during the same period of time. There has been a value increase in higher end homes more than lower end homes.
“Home prices are responding positively to reductions in both visible and shadow inventory over the past year,” CoreLogic chief economist Mark Fleming said. “This trend is a bright spot because the decline in shadow inventory translates to fewer distressed sales, which helps sustain price appreciation.”