Portland housing market hottest in U.S.

Product prices are up, Portland housing market is the hottest in the U.S. and mortgage interest rates are trending down. Median home prices continue to rise, albeit slower. Recent trends of lumber, logs, home construction, and housing markets, are compared to 2009 and 2005. Unsold inventory of homes remains at an attractive level for home sellers, of only 1.5%. In Portland, the number of homes listed is up from last month, and a year ago, 5 and 8 percent, respectively, according to Multiple Listing Service. Nationally, the housing market is not as good as Portland, which led the nation with a home price increase 1.4% from April to May, compared to 1.1% in 20 metro areas around the country (Case-Shiller home price index, The Oregonian).


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