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Monthly Home Sales Improve in Portland
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You're Now Reading:
Monthly Home Sales Improve in Portland
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Monthly Home Sales Improve in Portland
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August 5, 2011 (Shirley Allen)

Home sales in Portland improved from May to June but were at the second lowest level for a June since 1994 as new home sales fell to their lowest level on record according to real estate information provider DataQuick.

A total of 2,777 new and resale homes and condos closed escrow in the Portland-Vancouver-Beaverton metro area in June. Sales were 15.2 percent higher than May, but were 7.7 percent lower than June of 2010.

Home sales in the region typically increase 9.4 percent between May and June, but this month’s sales were still 34.8 percent below the average June sales amount of 4,260. On a year-over-year basis, sales have now fallen for 12 consecutive months with sales of new homes reaching a record low in June.

Cash buyers were responsible for 26.8 percent of the purchases in June and paid a median price of $168,500 for those homes.

Absentee buyers, usually investors and vacation home buyer’s, accounted for 18.9 percent of all homes sold in June paying a median price of $169,350.

The overall median price paid for new and resale homes and condos in June was $215,000, which was down 0.8 percent from May and down 8.5 percent from June of last year.

The current median price is 25.6 percent below the peak median price of $289,000 in October 2007.

Distressed sales represented 37.5 percent of the resale market in June as foreclosures accounted for 25.0 percent of the distressed sales and short sales accounted for 12.5 percent of the distressed sales.

Foreclosures jumped up in June as lenders foreclosed on 456 single-family homes and condos, up 17.2 percent in May, but down 22.8 percent from June of 2010. Foreclosures are down 22.8 percent during the first six months of 2011 compared to the same period in 2010.

Tags: DataQuick, existing home sales, Portland, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

FILL OUT THE FORM
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WE VERIFY & TRANSMIT TO LENDERS
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REVIEW YOUR OFFERS
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Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
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Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at Mortgageloanrateupdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
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Tips
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Calculator
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Rates

August 5, 2011 (Shirley Allen)

Home sales in Portland improved from May to June but were at the second lowest level for a June since 1994 as new home sales fell to their lowest level on record according to real estate information provider DataQuick.

A total of 2,777 new and resale homes and condos closed escrow in the Portland-Vancouver-Beaverton metro area in June. Sales were 15.2 percent higher than May, but were 7.7 percent lower than June of 2010.

Home sales in the region typically increase 9.4 percent between May and June, but this month’s sales were still 34.8 percent below the average June sales amount of 4,260. On a year-over-year basis, sales have now fallen for 12 consecutive months with sales of new homes reaching a record low in June.

Cash buyers were responsible for 26.8 percent of the purchases in June and paid a median price of $168,500 for those homes.

Absentee buyers, usually investors and vacation home buyer’s, accounted for 18.9 percent of all homes sold in June paying a median price of $169,350.

The overall median price paid for new and resale homes and condos in June was $215,000, which was down 0.8 percent from May and down 8.5 percent from June of last year.

The current median price is 25.6 percent below the peak median price of $289,000 in October 2007.

Distressed sales represented 37.5 percent of the resale market in June as foreclosures accounted for 25.0 percent of the distressed sales and short sales accounted for 12.5 percent of the distressed sales.

Foreclosures jumped up in June as lenders foreclosed on 456 single-family homes and condos, up 17.2 percent in May, but down 22.8 percent from June of 2010. Foreclosures are down 22.8 percent during the first six months of 2011 compared to the same period in 2010.

Tags: DataQuick, existing home sales, Portland, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

August 5, 2011 (Shirley Allen)

Home sales in Portland improved from May to June but were at the second lowest level for a June since 1994 as new home sales fell to their lowest level on record according to real estate information provider DataQuick.

A total of 2,777 new and resale homes and condos closed escrow in the Portland-Vancouver-Beaverton metro area in June. Sales were 15.2 percent higher than May, but were 7.7 percent lower than June of 2010.

Home sales in the region typically increase 9.4 percent between May and June, but this month’s sales were still 34.8 percent below the average June sales amount of 4,260. On a year-over-year basis, sales have now fallen for 12 consecutive months with sales of new homes reaching a record low in June.

Cash buyers were responsible for 26.8 percent of the purchases in June and paid a median price of $168,500 for those homes.

Absentee buyers, usually investors and vacation home buyer’s, accounted for 18.9 percent of all homes sold in June paying a median price of $169,350.

The overall median price paid for new and resale homes and condos in June was $215,000, which was down 0.8 percent from May and down 8.5 percent from June of last year.

The current median price is 25.6 percent below the peak median price of $289,000 in October 2007.

Distressed sales represented 37.5 percent of the resale market in June as foreclosures accounted for 25.0 percent of the distressed sales and short sales accounted for 12.5 percent of the distressed sales.

Foreclosures jumped up in June as lenders foreclosed on 456 single-family homes and condos, up 17.2 percent in May, but down 22.8 percent from June of 2010. Foreclosures are down 22.8 percent during the first six months of 2011 compared to the same period in 2010.

Tags: DataQuick, existing home sales, Portland, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.