But reading deeper into the report gives a more distressing picture. Houses in Portland are not selling even with prices greatly reduced. But if you quickly glanced at the headline, you wouldn't even have a clue.
An example from the Oregonian, hidden deep in the report: A family wanted to sell their three bedroom luxury home. They listed it late in December for $ $559,000. It has not sold yet. Six months on the market. The price has been reduced twice and now is $ $499,000. No bites yet. They changed real estate brokers hoping that will move the property. Maybe reducing the price below $ 400,000 might work . . .
Time to sell at the best price has already past says this report reading between the lines. Prices all across the country are falling. In Florida, median home prices took a big hit last month. Big discounts are very common. Would you believe discounts of $ 120,000? Yes? No? Well, houses are not selling without discounts. $ 20,000 to $ 150,000 discounts are common.
What is the point (and who is doing it) to keeping the market value up?
Sounds like a rug merchant. The market price is the market price. SHEESSH.