Great news just in from the Home Builders Association (HBA) of Metropolitan Portland. In a press release the HBA announced that Portland was added to a national list of improving housing markets! For those of you who wants some more details, here are the highlights from the HBA announcement:
- In February, the list of housing markets showing measurable improvement expanded by 29 metros for a total of 98 entries on the NAHB/First American Improving Markets Index (IMI).
- To make the IMI, metro areas must show six consecutive months of improvement in housing permits, employment and house prices.
- Oregon markets are showing significant improvement for a housing recovery in 2012.
- Local housing inventory levels are below a six month’s supply and housing demand is growing.
- A 1.9% improvement in house prices is projected for 2012.
- Between December 2010 and December 2011 the RMLS Market Action Report showed a 6% rise in pending sales and 4% increase in closed sales.
This news and sunshine – what a perfect way to kick off February.
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