Case-Shiller Home Prices May 28, 2013 Report

29 05 2013
Sales waters rising.

Sales waters rising.

Once again, the numbers are up and continuing to show a tremendous resurgence throughout the country for the S&P Case-Shiller Indices. Nationally, both composites seem to be gaining just over a 1% increase month-to-month in the past three months.

The big news is the double-digit increases over 2012 numbers.

“Home prices in all 20 cities posted annual gains for the third month in a row. Twelve of the 20 saw prices rise at double-digit annual growth. The National Index and the 10- and 20-City Composites posted their highest annual returns since 2006, said David Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices.

“…The weakest annual price gains were seen in New York (+2.6%), Cleveland (+4.8%) and Boston (+6.7%); even these numbers are quite substantial.

Indeed they are! The low price gains are a 2%-6% gain over the past 12 months is great news for anyone living in the past 6 years of the real estate world.

Portland had its largest month-to-month gains in over seven years, according to the report. Portland gained 2.65% between February and March 2013. The last time we were close on gains month-to-month with 2.64% was in May 2012 and before that was June 2005 with 2.78%. San Francisco was highest at 3.9%.

The report states the 20-city and 10-city composites are back to their late 2003 price levels. Portland is at a number of 145.52 which has been seen in spring 2009 and 2010 and before that spring 2005. Our lowest number was 129.1 in March 2012 prior to the boom in real estate of 2005. Our highest was June 2007 at 185.76. Believe it or not, but the bottom of our market to date is really March 2012! We have had 5 drops down since June 2007, but the lowest point was just last year near this time.

Chart of the… Portland, OR Case Shiller History

That being said, 2013 doesn’t feel like it as we have had a 12.8% increase in price according the Case-Shiller since March 2012.

So, for now, the worst is behind us. Here’s to greener pastures without forgetting where we have been the last 6 years.

Portland's Rain Paying Off.

Portland’s Rain Paying Off.

View the full report here The May 28, 2013 CS Report

 

Dustin Miller
Broker/Market Analyst

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May 2013 RMLS Portland Metro Market Action

15 05 2013
Portland Market Rolling Downhill

Portland Market Rolling Downhill

So the ball is still rolling downhill for the Portland Real Estate market. All is up in the Portland real estate world: pending sales are up from last month by 24%, closed sales are up from last month by 16.6%, average sales price is up 15.3% and median sales price is up 14.2%.

The median sales price for Portland is $257,000. The last time we were close to this was between January and February 2006. The median price is figured my averaging out all sales prices and picking the exact one in between the highest and lowest. The reason this has more significance than the average sales price is that it eliminates the million dollar sales from skewing the numbers from month-to-month.

Wow, is all we in the real estate world can say. The biggest surprise here (comparing the trend in the past 6 months to the year before) is the median sales price—up 16.6% to $257,000. There has never been a run of double digit increases in the median sales price from year-to-year in since 2007 in a hot market.

The numbers for year-to-year appreciation for Portland in the past 5 months are below:

December 2012 = 14.5%

January 2013 = 19.5%

February 2013 = 19.5%

March 2013 = 14.7%

April 2013 = 15.9%

Just so you know the past month-to-month median price level changes…

2012 small positives

2011 small negatives

2010 full of negatives with two break-evens at 0.0%

2009 double digit negatives

2008 single digit up and downs

2007 single digit up and downs

2006 single digit ups

2005 single digit ups

Compared to Last Year

Inventory down to 3.1 months.

Closed sales up 15.3%.

Pending sales up 14.2%

New listings up 19.3%.

Average Sales Price up 15.3%

Median Sales Price 14.2%

Compared to Last Month

Closed sales up 9.8%

Pending sales up 11.9% (way up from April’s report)

New listings up 20.7% (still couldn’t keep the inventory # from going down)

Average Sales Price Up 1.2%

Median Sales Price Up 2.8%

 

Portland rolling downhill

View The Full Report Here May 2013 RMLS Market Action





Portland Metro RMLS Market Action May 2013

15 05 2013

So the ball is still rolling downhill for the Portland Real Estate market. All is up in the Portland real estate world: pending sales are up from last month by 24%, closed sales are up from last month by 16.6%, average sales price is up 15.3% and median sales price is up 14.2%.

The median sales price for Portland is $257,000. The last time we were close to this was between January and February 2006. The median price is figured my averaging out all sales prices and picking the exact one in between the highest and lowest. The reason this has more significance than the average sales price is that it eliminates the million dollar sales from skewing the numbers from month-to-month.

Wow, is all we in the real estate world can say. The biggest surprise here (comparing the trend in the past 6 months to the year before) is the median sales price—up 16.6% to $257,000. There has never been a run of double digit increases in the median sales price from year-to-year in since 2007 in a hot market.

The numbers for year-to-year appreciation for Portland in the past 5 months are below:

December 2012 = 14.5%

January 2013 = 19.5%

February 2013 = 19.5%

March 2013 = 14.7%

April 2013 = 15.9%

Just so you know the past month-to-month median price level changes…

2012 small positives

2011 small negatives

2010 full of negatives with two break-evens at 0.0%

2009 double digit negatives

2008 single digit up and downs

2007 single digit up and downs

2006 single digit ups

2005 single digit ups

Compared to Last Year

Inventory down to 3.1 months.

Closed sales up 15.3%.

Pending sales up 14.2%

New listings up 19.3%.

Average Sales Price up 15.3%

Median Sales Price 14.2%

Compared to Last Month

Closed sales up 9.8%

Pending sales up 11.9% (way up from April’s report)

New listings up 20.7% (still couldn’t keep the inventory # from going down)

Average Sales Price Up 1.2%

Median Sales Price Up 2.8%

View The Full Report





May 2013 Portland RMLS Market Action Report

15 05 2013
Portland Market Smoothly Rolling Downhill

Portland Market Smoothly Rolling Downhill

So the ball is still rolling downhill for the Portland Real Estate market.  All is up in the Portland real estate world:   pending sales are up from last month by 24%, closed sales are up from last month by 16.6%, average sales price is up 15.3% and median sales price is up 14.2%.

 

The median sales price for Portland is $257,000.  The last time we were close to this was between January and February 2006.  The median price is figured my averaging out all sales prices and picking the exact one in between the highest and lowest.  The reason this has more significance than the average sales price is that it eliminates the million dollar sales from skewing the numbers from month-to-month.

 

Wow, is all we in the real estate world can say.  The biggest surprise here (comparing the trend in the past 6 months to the year before) is the median sales price—up 16.6% to $257,000.  There has never been a run of double digit increases in the median sales price from year-to-year in since 2007 in a hot market.

The numbers for year-to-year appreciation for Portland in the past 5 months are below:

December 2012 =  14.5%

January 2013 = 19.5%

February 2013 = 19.5%

March 2013 = 14.7%

April 2013 = 15.9%

 

Just so you know the past month-to-month median price level changes…

2012 small positives

2011 small negatives

2010 full of negatives with two break-evens at 0.0%

2009 double digit negatives

2008 single digit up and downs

2007 single digit up and downs

2006 single digit ups

2005 single digit ups

 

Compared to Last Year

Inventory down to 3.1 months.

Closed sales up 15.3%.

Pending sales up 14.2%

New listings up 19.3%.

Average Sales Price up 1.2%

Median Sales Price 2.8%

 

Compared to Last Month

Closed sales up 9.8%

Pending sales up 11.9% (way up from April’s report)

New listings up 20.7%  (still couldn’t keep the inventory # from going down)

Average Sales Price Up 1.2%

Median Sales Price Up 2.8%

View The Full Report Here    May 2013 RMLS Market Action

 

Portland rolling downhillDustin Miller

Broker/Leading Market Analyst

 





Portland’s Hottest Neighborhoods

4 05 2013

Do you live in one of Portland’s Hottest Nieghborhoods for 2013?

Check out this great new article I asissted on from the Portland Business Journal.

http://www.bizjournals.com/portland/blog/real-estate-daily/2013/04/do-you-live-in-one-of-portlands.html?ana=e_ptl_real&s=newsletter&ed=2013-04-30&u=owSEzPH2PIP/j6QE4704T/ytP4w.

Portland Business Journal Countdown

Portland Business Journal Countdown

 

 

 

 

 

 

 

 

–Dustin Miller

Broker/ Market Analyst