KGW Reports that the Portland Housing Market is Close to Bottom

"WEST LINN, Ore. -- There is talk the housing market may be on the way back up.

Construction, homes sales and prices are all up. It's giving Wall Street and the economy an early Christmas present.

This time of year, the real estate market is in limbo. But, this November and December in West Linn, several home builders are busy again with new construction. Some are building on spec. That hasn't happened in years.

"They are buyers out there and everybody wants new construction," said Shawn Gentemann, owner of Park Place Homes.

In the Portland metro area, construction is up for apartment buildings as well as single homes. Across the country, new construction was up 9.3 percent in November, bringing the rate of new-housing construction to its highest level in 19 months."

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http://www.kgw.com/home/Is-The-Housing-Market-Close-to-the-Bottom-136039313.html