From August through November, home-price gains in the Portland area have matched or trailed the national average, according to the S&P CoreLogic Case-Shiller home price index Portland until August handily and reliably topped national gains, and even led the 20-city index in year-over-year price increases for the better part of a year. So though there may be no recent sales in the neighborhood”, even a few sales in the area allow them to extrapolate changes in the local housing market. I believe that most, if not all, of us do not oppose the development of the land, what we oppose is the development of city of cookie cutter homes that will undoubtedly drop the values of your home.
While housing prices have increased in major metropolitan areas across America, the greatest percentage growth in home prices since 1998 has been in California, specifically in Los Angeles and the Bay Area. Lord knows how many real estate agents I have talked with about real estate values who’s numbers were far less accurate than Zillow-but real estate agents get to toss around numbers and never provide any information on their accuracy track record.
Recent real estate appraisals have shown that property values are not impacted because a cell site is nearby and in fact the opposite may be true. The Home Values Index provides monthly capital growth measurements across three broad housing types: detached houses, units and a combined dwellings index that includes both houses and units.
In short, change in supply and demand are going on all the time, however, due to the vast majority of market participants not understanding the effects of that change – or even that change took place in a particular area, the people who do realize that values have changed will be in a position to take advantage.
All that keeps coming to mind when thinking about using county data” is you have got to be kidding me. The values from one county to the next in my area varies tremendously! The most extreme example is metropolitan New York, where median condo values are now at 138 percent of median single-family detached home values.