Tuesday, August 9, 2011

Good news for Portland Real Estate

Thank you CNN Money!

Overall this article is pretty negative on the housing market nationwide. However, there are some glowing statements about the Northwest.

Stiff said markets that are ripe for a turnaround will be in the Pacific Northwest. The biggest gainer is expected to be Tacoma, Wash., where Fiserv said prices will rise nearly 25% by March 2013.

Seattle and Portland's prices are expected to stay flat through next March and then record double-digit gains of just over 10% each over the following 12 months.

"Homes are undervalued in the Northwest," said Stiff, "the economy is diverse and the demographics strong. It has tech, manufacturing and extractive industries (like lumbering and mining) and people are still moving into the area."