Tuesday, July 24, 2012

Local News: Bright Spots in Retail and Home Prices

Today's local news highlights bring us positive news in retail and the housing market.
Back in February we posted about the $10-million expansion planned for the Woodburn Company Stores. A story from the Portland Business Journal reports that 10 of the 16 new stores in the expansion will be ready for back-to-school shopping. The rest will open in time for the Black Friday shopping rush after Thanksgiving. You can find the complete list of new retailers in the full article.

An article from The Oregonian brings welcomed news that home values in the U.S. and Portland have reached their low point and turned the corner. Real estate data company Zillow released numbers showing that home values in the Portland area rose by 1.6 percent between June 2011 and June 2012. Prices were also reported to have increased by 1.2 percent from May to June, the fourth consecutive month of gains. Zillow expects home values in Portland to rise by 4.3 percent over the next year. The full story offers more details, and a report card of June home prices.

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