Tuesday, June 24, 2008
Portland Housing Market: Case-Shiller April 08 Numbers
The latest Case-Shiller numbers are out for April 08, I have posted the numbers for Portland, Seattle and the 20 city composite above. The Oregonian is emphasizing the big drop from the year to year number (April 07 was about 184 and April 08 is about 175), but the interesting thing for me is that the seasonal uptick (albeit small) is finally showing up. This is not true of the 20 city composite. Whether this is an anomaly or a signal that the market is not going to crash further is anyone's guess at this point, but I would suspect that ceteris paribus the downturn is bottoming out. However the worsening overall economic conditions might cause this to start its downward march again.
Here is the graph of the numbers themselves.
By the way, the much improved graphics come thanks to my new Mac upon which this blog post was created.