Here is the latest Case-Shiller index for Portland home prices. I have also included Seattle as a basis for comparison. I have to admit, I am pretty amazed, I thought that things would be much worse by now. Seattle is starting to fall fairly quickly, but Portland is not. The January and February numbers might be a bit worse, but I think the market is already showing signs of increased activity as Spring approaches. However, long-term mortgage rates are rising quickly (see yesterday's post) and this might put damper on the market in short order. Despite this, I have to say I am slowly switching from a pessimist to an optimist.