Farls, you heard that the “median” in Portland is still rising. I can assure you that prices are dropping rather precariously from the peak last year. I just sold my house there this year for 10% less than 2 of the exact model sold for last spring, if anything mine was in better shape with all new floors, paint, etc. This was in a rather nondistinct neighborhoor, no lot premiums, etc. Although you may have heard many times that the median doesn’t really tell you anything about what specific house prices are doing, it doesn’t really slap you in the face like a large fish until you actually go to sell your house.
