By Economist Dr. Eric Fruits,
Portland home prices are up 13 percent from last year, despite seasonal slowing.
Prices remain down 14.5 percent from the peak in mid-2007, Portland area home prices are up 23.5 percent from the bottom of the market in early 2012.
While the Portland area has seen three months of declining home prices, this seems to reflect a seasonal occurrence, rather than the beginning of a long-run trend. Traditionally, April is the first month of the year in which prices begin to rise after the winter slow down.