Portland, OR - Local Housing Data - Summary

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Portland, Vancouver, Beaverton, OR, WA

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Portland, OR Local News

  • CEO Power Panel: Thoughts on Green Building

    The second in a series of excerpts from a panel discussion at the 2013 Multifamily Executive Conference. This excerpt focuses on how green building affects individual markets.

  • Revamped Design Centers = Higher Profits

    As demand recovers, more builders are streamlining and modernizing their out-of-date studios.

  • College reunion

    Retirees are flocking to university towns, drawn by the intellectual life, health care and youthful vibes. Wall Street Journal staffer Katy McLaughlin checks out the markets in Austin, Texas; Raleigh-Durham, N.C., and Portland, Ore. (paywall).

Prices of New Homes Gain in Portland, Sales Drop According to Latest Data

Posted on: Mar 07, 2013 07:29:55 AM

New home closings in the Portland, OR market declined year-over-year in December, a move downward following a rise in November 2012. Closings fell 15.6% from a year earlier to 243. This came on the heels of a 21.3% hike year-over-year in November.

A total of 2,879 new homes were sold during the 12 months that ended in December, down from 2,924 for the year that ended in November.

As a percentage of overall housing closings, new home closings made up 9.0%. This is down from the 10.4% of closings a year earlier. Following a year-over-year rise in November, closings of new and existing homes dipped year-over-year in December.

Pricing and Mortgage Trends

For newly sold homes, the average price increased 21.0% year-over-year in December to $317,559 per unit. This gain is an improvement over the 7.2% rise in November year-over-year.

For newly sold homes, the average mortgage size climbed year-over-year along with new home prices. It gained to $269,720 in December, a 15.3% bump. In November 2012, average mortgage size on newly sold homes saw a 1.5% rise year-over-year from a year earlier. For new home closings, the percentage of the sale price that was being financed fell 4.2 percentage points year-over-year to 84.9% in December 2012.


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