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, Portland Metro||4498||4252||5.46%||5723||-27.20%|