Clatsop County finds home prices dropping
Saturday, June 25, 2011
ASTORIA, Ore. (AP) -- In Oregon's Clatsop County, rental housing vacancies are tighter than they were a decade ago, but home sale prices have dropped significantly.
Those are part of the findings from the U.S. Census Bureau, which found that Clatsop County residents may struggle to find long-term rental homes than they did in 2000.
A decade ago, the Daily Astorian reports the county had a long-term rental vacancy rate of 14.8 percent. But now, the long-term rental vacancy rate is only 9.1 percent.
Realtor Robin Risley says local residents worried about the economy are moving into the available rental units instead of buying their own homes, leading in part to the declining vacancy rate.
Risley 80 percent of this year's home sales are for second homes, and 20 percent are for primary homes.
Information from: The Daily Astorian, http://www.dailyastorian.com