Existing home sales came in at a whopping 6,850,000, beating estimates with the highest print since 2006. Days on market fell from 36 days to 21 days on a year-over-year basis. Cash buyers remain at
Home Remodeling Almost As Hot As Home Buying And Selling In Portland
Dated: March 11 2016
Home buying and selling continues to keep the Portland housing market churning.
According to a new analysis from property information company BuildFax, home remodeling is adding fuel to that fire as well.
In its analysis, which looked at building permit info to determine which cities had the most residential remodeling activity, BuildFax found that Portland landed at no. 8 on its list of the top cities for remodeling in the country.
The firm found that more than 7 percent of Portland-area homes were remodeled in 2015. In the top city in the country, Colorado Springs, nearly 15 percent of homes were remodeled.
Other top markets just ahead of Portland on the list included Orlando, Denver, Minneapolis, St. Paul, Tampa Bay and Aurora, Colo.
The BuildFax analysis also noted that Portland had an increase in remodeling activity between 2013 and early 2016 of 13 percent.
"We see heavy activity across the board (in Portland), and especially with regard to renovations involving electrical, mechanical and plumbing," the analysis noted.
BuildFax's report comes just as the Home Builders Association of Metropolitan Portland kicks off its annual Tour of Remodeled Homes. Set for this weekend (March 12 and March 13), the tour includes nine home projects across the metro region.
The tour projects are much more substantial than electrical, mechanical and plumbing projects and range instead from new master suites and kitchens to whole-house remodels.
For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....
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