A recent report illustrates where housing near greater Woodburn has been and where it may be headed. The latest Case-Shiller home price index indicates our region is indeed bouncing back. In fact, regional real estate recently saw its best results since 2005.
To be clear, Woodburn is not technically inside the geographic boundaries of the this latest report. Yet when it comes to Oregon real estate, greater Portland is the 900 pound gorilla in the room that impacts nearby markets. Changes in larger metro areas (like Portland) frequently impact less populous areas (like Woodburn) as various market behaviors take hold, then spread over time. Home prices are one example, particularly since greater Portland is a formidable economic engine-where commuters who frequently drive to work from places like Woodburn-are employed.
One other example of this gradual effect on smaller markets by larger markets are mass transit projects connecting Woodburn to Portland and points beyond, like this current railway transportation plan currently on the drawing board. The result could have significant impacts on Woodburn residents and our economy.
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