Wednesday, March 21, 2007

What Bubble? Oregon Real Estate is Rocking

Bubble burst? What bubble burst? The danger in talking about local situations as if they applied across the board is that real estate is always a local situation and what's a bubble bursting in one area can be a time someone else's balloon is expanding rapidly.

Take a look at these metro areas that were the biggest value gainers in 2006, according the National Association of Realtors.

2006 biggest value gainers

Rank/Metropolitan statistical area/One-year appreciation (%)

1. Salem, Ore. 19.8

2 Virginia Beach-Norfolk-Newport News, Va.-N.C. 19.4

3 Spokane, Wash. 17.7

4 Salt Lake City, Utah 16.7

5 Eugene-Springfield, Ore. 16.7

6 Baton Rouge, La. 15.9

7 Gainesville, Fla. 15.9

8 Ocala, Fla. 15.5

9 Dover, Del. 14.7

10 Portland-Vancouver-Beaverton, Ore.-Wash. 14.7

Source: National Association of Realtors, February 2007 Metropolitan Area Existing-Home Prices and State Existing-Home Sales report

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