Tuesday, March 25, 2008
Portland Housing Update
The latest Case-Shiller data shows definite softening of the Portland market in January. This happened last year too, though not nearly to the same extent. It will be very instructive to see what happens through the spring and early summer months. Especially after these latest moves to inject liquidity and ensure stability of the mortgage market. This is quite a big drop and my recent confidence is being shaken, but I shall await the spring numbers to come to a final conclusion. It seems as if the supply of home for sale is really starting to grow (as seen below), which could be a bad omen.