The prices of new houses and foreclosure residential properties in Portland are expected to decline further in 2011. A drop of over 4% is again predicted as analysts consider unemployment records.
Pre foreclosure sale and other residential property sales figures were up last month in Portland. However, both median and average selling prices declined.
Portland foreclosures soared in 2009 as manufacturing and construction jobs declined. More than 20,000 homeowners received default or foreclosure notices in 2009.
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