Here in Portland, it's old news that homes are flying off the market. Sellers are selling and buyers are... struggling. But here is an awesome article from the Portland Business Journal that breaks out the number game for us, and tells us exactly where home appreciation rates our. This local business journal states that Oregon ranks 5th in the nation for home price appreciation, coming in at 15.5% in the prior year - the national average hangs out at at around 12%. The article quotes Anand Nallathambi, as summing up the reason for booming appreciation, saying “Increasing demand for new and existing homes, coupled with low inventory, has created a virtuous cycle for price gains, most clearly seen in the Western states with year-over-year gains of 20 percent or more,”.
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The National Association of Realtors’ most recent Existing Home Sal
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