The median home value in Portland is $310,500. According to the Case Shiller index of home prices, Portland home values have gone up 6.0% over the past year and Zillow predicts they will rise 4.8% within the next year. By contrast, nationally, over the past year, prices rose just 4.7 percent.
Continuing strong price gains will help an already hot seller’s market in the first half of 2015 leading up to the spring buying season. Spring of 2015 will see plenty of buyers on the market, as interest rates stay low and new mortgage programs convince first time home buyers to take the step toward ownership.
The Standard & Poor’s Case–Shiller Home Price Indices are repeat-sales house price indices for the United States. There are multiple Case–Shiller home price indices: A national home price index, a 20-city composite index, a 10-city composite index, and twenty individual metro area indices. These indices are calculated and kept monthly by Standard and Poor, with data points calculated for the time period of January 1987 through the present.