Residential Real Estate Jobs Slowly Return

I saw the above titled article in the July 27, 2012 issue of the Portland Business Journal and I want to spread the good news, check this out:

Although the Oregon housing market is recovering slowly, it is recovering.  The result: brokerages, title offices, appraisal companies, lenders and remodeling firms are all hiring.  One staging company recently turned down five clients due to heavy demand for its services. Following are some excepts from the article:

Approximately 31,700 Oregonians were employed in the real estate industry in June, about 1,000 more than a year ago, according to the Oregon Employment Department. The improved picture comes with one caveat: Real estate employment remains well below its 2007 peak of 35,600.

Both closed and pending sales rose by double digits in the first six months of 2012 compared to 2011, according to the Regional Multiple Listing Service. The average price of a Portland home rose 8.2 percent between April and June, to $284,100.

That translates into increased demand for all services related to residential real estate — especially since so many fled the profession during the housing meltdown.

The Portland Metropolitan Association of Realtors, which represents licensed real estate brokers, said 332 new members have joined so far this year. That compares to 188 in the same period in 2011.

The fall and rise of Portland’s real estate market is most evident in the Portland Bureau of Development Services, the city’s planning department. In 2009, BDS slashed its head count to 147 from 315 as building activity all but dried up. With developers, including home builders, back in business, BDS is back to 178 employees. The city authorized an additional 17.6 full-time positions in the current budget, which started July 1.  Administrative Service Manager Denise Kline said the department will hire a dozen plan examiners, technicians, planners and inspectors by August. The balance of the newly authorized positions will be filled as the need arises.

So if you are waiting to reenter the real estate market in some capacity or to buy/sell a property, it may be time to take the leap.

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