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I frequently read news stories about nationwide real estate markets and trend statistics, but I know the old adage about real estate and location is true. So I put together this chart comparing the same nationwide numbers I read this morning with those for the Portland Metro (Tri-County) area.
While home prices nationwide are up 12.10% from a year ago, they are up 22.0% for Portland. Nationwide April home prices are up 3.10% from March, but in Portland it's been 8.36%.
That's in part because while inventory nationwide is down 14% from a year ago, Portland is down 27.2%. For every four homes for sale a year ago, there are only three today.
| Comparing Portland to National Real Estate Trends | |||||
| April 1, 2013 | March 1, 2013 | Change | April 1, 2012 | Change | |
| Home Price, Nationwide | 3.10% | 12.10% | |||
| Home Price, Portland Metro | $272,000 | $251,000 | 8.36% | $223,000 | 22.00% |
| Inventory, Nationwide | -14% | ||||
| Inventory, Portland Metro | 4498 | 4252 | 5.46% | 5723 | -27.20% |
