While the Portland real estate market is recovering well, others are still struggling

Here in Portland Oregon, the housing market seems to be in full on recovery mode with month after month numbers showing positive improvements, sales are higher, home prices are climbing and we’re regularly seeing multiple offer situations now, however not every market nationally is seeing the same thing as Forbes.com shows here.

Out of the 146 markets that Realtor.com looked at in their recent report, 77 of them (including Portland homes) were seeing improvement, often some strong improvements, while 40 areas were still declining slightly and 29 remained flat for the year.

So yes, the recovery is on, but it’s going to take a while for other markets to catch up. Whenever markets shift there’s always a first to see it and a last to see it, from the numbers I’ve been seeing locally in Portland and nationally it seems those 69 markets that still have some issues will just fall into column of last to see improvements.

Of course, Citigroup could be right, despite JP Morgan and Wells Fargo declaring the housing market has turned the corner on Friday (whilst announcing record profits), Citigroup isn’t isn’t so sure and they do have valid points. There’s a big unknown coming up next month, that’s right, the election…Whoever’s side you’re on, either win would certainly effect markets and in turn potentially the housing market. Then there’s also the countries completely out of control debt situation that makes for another very fragile piece of the puzzle.

I tend to be an optimist, but I’m also a realist and I know that the wrong comments or actions by the right individuals could easily stall the current recovery and send us backwards; quickly. So, here’s to hoping we don’t see any market busting comments from the powers that be anytime soon.

~Scott McDonald

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