Home-price growth in the Portland area is slowing down, but rising prices here still outpace most of the nation's major cities.
The metro-area saw home prices climb 1 percent in March, according to the S&P CoreLogic Case-Shiller home price index, and 9.2 percent compared with a year earlier.
It came in second only to Seattle, where prices rose 12.3 percent year over year, in the 20-city index. Dallas and Denver also posted big gains, of 8.6 percent and 8.4 percent respectively.
Nationally, prices rose 5.8 percent annually in March. Signs point to a busy nationwide housing market, with sales of new and existing homes trending higher. But new-home construction has been slower to ramp up, and that's led to intensely competitive markets like Portland.
Homebuyers here face a slim supply of homes for sale. As a result, those homes on the market often see multiple bids within days of listing.
The median sale price in the Portland area was $370,000 in March, according to the Regional Multiple Listing Service. It rose to $385,000 in April.
