This surprises me, as the housing market here hasn't taken a hit. Prices are still high, but the houses stay on the market for a bit longer. But not much longer.
http://www.katu.com/news/11442196.htmlPORTLAND, Ore. (AP) - Faced with declining demand at current prices, a Lake Oswego home builder says he will put all 230 of his unsold homes and condos on the auction block next month.
The Oregonian newspapers says though asking prices have ranged from $300,000 to $650,000, bids will start as low as $69,000.
Roger Pollock is owner of Buena Vista Custom Homes. He says they were overaggressive and too slow to react to the changes in the market. Because of that, they created an oversupply of finished homes.
Portland's housing market remains relatively stable compared with states such as Florida and California.