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Home Sales Move Higher in Portland
Home Sales Move Higher in Portland
Home Sales Move Higher in Portland
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August 21, 2012 (Shirley Allen)

Monthly sales of new and existing homes in the Portland area continued to improve in June, climbing nearly twelve percent from May, while year-over-year sales improved for the twelfth consecutive month according to real estate information provider DataQuick.

A total of 3,198 new and resale homes and condos closed escrow in the Portland-Vancouver-Beaverton metro area in June. Sales were 11.9 percent higher than the 2,858 homes sold in May and 14.8 percent higher than the 2,786 homes sold in June of 2011. It was the 12th consecutive month that home sales in the area improved year-over-year.

Home sales in the region typically increase around nine percent between May and June but were still 23.9 percent lower than the historical average for the month. Despite the lower than average sales, it was still the highest amount of sales for a June in five years.

Cash buyers accounted for 25.0 percent of the purchases in June, up from 24.0 percent in May but down from 25.2 percent the previous year. Cash buyers paid a median price of $179,748 for the homes that they purchased during the month which was up 7.6 percent from June of 2011.

Absentee buyers, usually investors and vacation home buyer’s, accounted for 27.7 percent of all homes sold in June paying a median price of $202,230. In the previous month of May, 24.0 percent of all homes were purchased by absentee buyers.

The overall median price paid for new and resale homes and condos in June was $230,000, up 2.9 from May’s median price of $223,622 and up 7.0 percent from $215,000 in June of last year.

The current median price is 20.4 percent below the peak median price of $289,000 in October 2007.

Distressed sales accounted for 29.8 percent of the resale market in June with foreclosure re-sales accounting for 15.4 percent of the distressed sales, down from 19.6 percent the previous month, while short sales accounted for 14.4 percent of the distressed sales, up from 14.1 percent in May.

Tags: Portland real estate, existing home sales, Portland, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use
Helpful Tools
Mortgage
Calculator
Estimate your monthly mortgage payment
Auto Loan
Calculator
Determine how much car you can afford before buying
Learn About
Mortgage Loans
Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison
Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates
See today's mortgage rates. Shop, compare and save.

August 21, 2012 (Shirley Allen)

Monthly sales of new and existing homes in the Portland area continued to improve in June, climbing nearly twelve percent from May, while year-over-year sales improved for the twelfth consecutive month according to real estate information provider DataQuick.

A total of 3,198 new and resale homes and condos closed escrow in the Portland-Vancouver-Beaverton metro area in June. Sales were 11.9 percent higher than the 2,858 homes sold in May and 14.8 percent higher than the 2,786 homes sold in June of 2011. It was the 12th consecutive month that home sales in the area improved year-over-year.

Home sales in the region typically increase around nine percent between May and June but were still 23.9 percent lower than the historical average for the month. Despite the lower than average sales, it was still the highest amount of sales for a June in five years.

Cash buyers accounted for 25.0 percent of the purchases in June, up from 24.0 percent in May but down from 25.2 percent the previous year. Cash buyers paid a median price of $179,748 for the homes that they purchased during the month which was up 7.6 percent from June of 2011.

Absentee buyers, usually investors and vacation home buyer’s, accounted for 27.7 percent of all homes sold in June paying a median price of $202,230. In the previous month of May, 24.0 percent of all homes were purchased by absentee buyers.

The overall median price paid for new and resale homes and condos in June was $230,000, up 2.9 from May’s median price of $223,622 and up 7.0 percent from $215,000 in June of last year.

The current median price is 20.4 percent below the peak median price of $289,000 in October 2007.

Distressed sales accounted for 29.8 percent of the resale market in June with foreclosure re-sales accounting for 15.4 percent of the distressed sales, down from 19.6 percent the previous month, while short sales accounted for 14.4 percent of the distressed sales, up from 14.1 percent in May.

Tags: Portland real estate, existing home sales, Portland, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use
Helpful Tools

August 21, 2012 (Shirley Allen)

Monthly sales of new and existing homes in the Portland area continued to improve in June, climbing nearly twelve percent from May, while year-over-year sales improved for the twelfth consecutive month according to real estate information provider DataQuick.

A total of 3,198 new and resale homes and condos closed escrow in the Portland-Vancouver-Beaverton metro area in June. Sales were 11.9 percent higher than the 2,858 homes sold in May and 14.8 percent higher than the 2,786 homes sold in June of 2011. It was the 12th consecutive month that home sales in the area improved year-over-year.

Home sales in the region typically increase around nine percent between May and June but were still 23.9 percent lower than the historical average for the month. Despite the lower than average sales, it was still the highest amount of sales for a June in five years.

Cash buyers accounted for 25.0 percent of the purchases in June, up from 24.0 percent in May but down from 25.2 percent the previous year. Cash buyers paid a median price of $179,748 for the homes that they purchased during the month which was up 7.6 percent from June of 2011.

Absentee buyers, usually investors and vacation home buyer’s, accounted for 27.7 percent of all homes sold in June paying a median price of $202,230. In the previous month of May, 24.0 percent of all homes were purchased by absentee buyers.

The overall median price paid for new and resale homes and condos in June was $230,000, up 2.9 from May’s median price of $223,622 and up 7.0 percent from $215,000 in June of last year.

The current median price is 20.4 percent below the peak median price of $289,000 in October 2007.

Distressed sales accounted for 29.8 percent of the resale market in June with foreclosure re-sales accounting for 15.4 percent of the distressed sales, down from 19.6 percent the previous month, while short sales accounted for 14.4 percent of the distressed sales, up from 14.1 percent in May.

Tags: Portland real estate, existing home sales, Portland, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use

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