Portland’s overall housing market has been one of the strongest in the nation as far as  home prices holding steady.  The majority of places int he country have dropped dramatically from 2000 numbers.

Our value here is still up 48% in the Portland Metro area, compared to other places. For example, Phoenix is up 6% from 2000 numbers and Las Vegas 4%  from 2000 numbers. We have not felt the effect that most of the country has in dropping real estate prices.

We have noticed drops in the market, but not comparable to the rest of the country. The overall decrease in value in Portland should hold steady. We were the second to last major city in the United States to fall or lose prices; the last being Charlotte, North Carolina. Most economists predict that we are coming out of the worst now.  Best case scenario, we are levelling off or going up a small percentage. Worst case scenario, we might see 5-7% decrease in the market, which doesn’t sound like a great thing, but compared to the last 18 months, it is positive news.

Portland should hold steady  and be a great place to buy a house now and in the future.