According to an article in The Oregonain, the Portland housing market is fairly active, with a 7.9% price increase from a year earlier.
"May brought little relief for Portland-area home shoppers trying to navigate a crowded market. Home sales climbed in May, but the inventory of homes put on the market couldn't keep up with demand,..."
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Also the Housing Price Trends system registered a BUY signal in the first quarter of 2015 for the Portland-Vancouver-Hillsboro MSA area. Review Portland's price history here.