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April 24, 2017

Portland market tough on new buyers

PORTLAND (AP) — The Portland housing market has become a tough place for first-time homebuyers.

Homes within a $300,000 price range are quickly disappearing from the market, making starter homes unaffordable to middle-income families, The Oregonian/OregonLive reported. Data taken from housing website Zillow shows 61 percent of today's housing stock is within reach for median-income earners in the metro area. The current prices are close to ones seen during the housing bubble collapse in 2007-2008, according to the report.

Prospective homeowner Claire Anderson said she has begun looking at Portland homes that have been crime scenes because they are some of the few properties still within her price range.

With more first-time homebuyers looking for options away from the city, the Portland Housing Center, which works with that demographic, is looking to set up Beaverton and Vancouver offices.




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