January’s average home sale price for the Portland Metropolitan area stood at $506,554. This is an 8.7% increase compared to December 2016 and a 17.9% increase compared to the same time last year. Below is perfomance by Region, Nationally. 

Highlights:

• Sales of existing homes reached the highest pace in a decade at a seasonally adjusted annual rate of 5.69 million.
• January marked the 59th consecutive month of year-over-year price gains as the median home price rose 7.1% to $228,900.
• NAR’s Chief Economist, Lawrence Yun had this to say, “Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home."