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Portland Lands Among The Top 5 US Housing Markets
Dated: October 20 2015
A mix of solid economic fundamentals and strong housing components have landed Portland among the top five housing markets in the entire country.
That's according to a new report from online real estate marketplace Auction.com, Portland has the fifth best market in the nation for single-family homes.
The report, called the "Top Single Family Housing Markets Report for Fall 2015," ranked Portland fifth, behind only Fort Lauderdale, Orlando, Palm Beach County and, at the top of the list, Seattle.
According to the report, the top five markets had the best mix of rising home prices, "favorable" affordability and strong housing demand. They all also had churning economies and positive demographic trends on their side.
The company attributed Portland's strong showing to a tech sector boost that's helped push employment and payrolls 4 percent and 6.5 percent above their all-time highs, respectively.
In addition, the report cited pickups in Portland's professional service and information and noted that the city's population grew 1.5 percent last year alone.
Home prices have risen every quarter for the past three years and prices have climbed nearly 10 percent in the past year. According to the latest RMLS numbers, the average sale price in September was up nearly 6 percent over last year to $352,000.
Auction.com based Seattle's top ranking on similar factors: a booming tech sector, rising home prices and home sales that have climbed nearly 13 percent in the past year.
In making its listing, the report took into account pricing, sales, permit activity and economic growth, along with population changes.
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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