Portland Home Prices: Update

Here is the latest Case-Shiller monthly home value index for Portland. The local media are still on the 12 month overall appreciation story of Portland home prices, but the recent trend is not looking good, October is again lower than September. Home prices continue on the downward slide that they began after peaking in July. Part of this is seasonal for sure, a depreciation happened last fall and winter as well, which is why the 12 month figures are considered a better index, but this microtrend is troubling. The key will be whether the spring market corrects this - we shall see.