re:PDX

From RMLS's official release yesterday: June 2008 May 2008 June 2007 Median Sale Price $289,000 $287,500 $295,000 Average Sale Price $348,800 $335,000 $352,400 Closed Sales 1,877 1,863 2,731 Pending Sales 2,731 2,124 2,852 New Listings 5,213 5,182 6,231 Active Listings 17,788 17,066 13,752 Average Market Time 76 days 72 days 55 days Inventory (in months) 9.5 9.2 5.0...

Happy Bastille Day! (Needed something to celebrate today...may as well choose a French holiday...) Without further adieu (ahem), here is a rundown of recent real estate news, both national and local to the Portland area. Freddie Mac & Fannie Mae get a lifeline - What does it mean for you? Overshadowing the Fed takeover of IndyMac Bank over the weekend, the Fed steps in to shore up...

More early analysis of Portland's June 2008 real estate market results. I noted last week that unit sales were basically flat from the previous month, but down 32% from June 2007. Despite discouraging economic news, prices remain resilient in the face of rising inventory. The median price for June will be approximately* $288,000, which is down 2.4% from June 2007's $295,000 result. The average...

We're off for a few days at the coast (after a few more showings this morning), but I thought I'd pass along some early June sales numbers. In what's starting to sound like a broken record, it appears total sold units will again be down again in the 30 to 33% range compared to 1 year ago. To date, 1,833 homes show a status of SOLD, compared to 2,731 in June 2007. How that will affect standing...

After digesting Wharton's subprime research, housing wonks will want to grab a copy of Harvard University's report, The State of the Nation's Housing 2008, released today. The report has little Portland-specific data, but shows some national graphics highlighting new housing starts, housing wages, rental stocks, immigrant population, and more. Hat tip to Tom Cusack at the Oregon Housing Blog....

Not to end the week on a downer, but I ran across an interesting study on the current state of the national housing market (there are plenty of analyses to go around, I know). The Wharton University School of the University of Pennsylvania tackles the housing crisis in a special report, The Subprime Crisis, How Wall Street Alchemists, Ambitious Lender, Overreaching Consumers and Enabling Lawmakers...

Tomorrow night (June 20) around 8pm, I'll be walking into the veritable lion's den. More specifically, I will be sharing barley, hops, yeast, and water (that's beer, folks) at the venerable Lucky Labrador with some of Portland's most active housing 'bubble' activists and bloggers, as organized by the Portland Housing Blog and the Portland Real Estate Outsider. For the uninitiated, the Portland...