Oregon Public Broadcasting

Two reports out Friday say that because of a temporary tax credit and lower prices, home sales in the western U.S. are up.

According to Portland real estate statistics, that trend holds mostly true here as well.

Ethan Lindsey reports.

The National Association of Realtors data shows that the price for a median home in the west, including Washington, Oregon and California, dropped 12 percent from last year.

In the 13 western states, the median price is $220,000.

In Portland, the median price is a touch lower -- $249,000 – but that’s down 11 percent from 2008.

The lower prices have resulted in more Portland homes being sold – reflecting the regional uptick in sales.

The number of finalized home sales in Stumptown is up 4-percent from last year. But, again, a lot of it is from sellers in distressed.

Local realtors estimate that 19 percent of all the August sales in the Portland metro area were bank-owned or in foreclosure.