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Portland area could see 10 percent rise in median price for existing homes

Portland area could see 10 percent rise in median price for existing homes

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A real estate website says home prices in the Portland area could increase at the second-fastest rate in the nation next year.

Realtor.com released its 2023 Housing Forecast Wednesday.

According to the Portland Press Herald, the Portland-South Portland market could see a 10.3 percent increase in the median price for existing homes.

That increase would be second only to Worcester, Massachusetts.

Nationally, the website is predicting a 5.4 percent increase.

Despite the high ranking from Realtor.com, home prices in the Portland area currently are not growing nearly as fast as they did during the start of the pandemic.

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