The story for Portland is essentially a holding pattern, the raw number is down slightly from November, the seasonally adjusted number is up slightly. I think we are in for a year of stasis in terms of home values, there are a lot of current foreclosures, but the delinquency rates are on the decline. So the bottom may be near in terms of the shake-out, but the incentives that have propped up are going away as well, including the Feds efforts to keep mortgage rates low.
So I think that, like the economy as a whole, we are in for a year of very slow recovery.
Sigh...
Home Prices, by Metro Area
Metro Area | December 2009 | Unadjusted Change from November | Seasonally Adjusted Change from November | Year-over-year change |
Atlanta | 108.52 | -0.7% | 0.0% | -4.0% |
Boston | 153.77 | -0.1% | 0.9% | 0.5% |
Charlotte | 117.78 | -0.7% | 0.1% | -3.8% |
Chicago | 127.27 | -1.6% | -0.6% | -7.2% |
Cleveland | 103.93 | -0.8% | -0.2% | -1.2% |
Dallas | 118.84 | -0.9% | 0.1% | 3.0% |
Denver | 127.2 | -0.8% | 0.1% | 1.2% |
Detroit | 72.59 | 0.0% | 0.2% | -10.3% |
Las Vegas | 104.39 | 0.2% | 0.9% | -20.6% |
Los Angeles | 171.4 | 1.0% | 1.4% | 0.0% |
Miami | 148.66 | -0.3% | -0.2% | -9.9% |
Minneapolis | 123.32 | -0.5% | 0.3% | -2.3% |
New York | 171.91 | -0.7% | -0.5% | -6.3% |
Phoenix | 112.53 | 0.5% | 1.2% | -9.2% |
Portland | 149.95 | -0.3% | 0.5% | -5.4% |
San Diego | 156.29 | 0.1% | 1.1% | 2.7% |
San Francisco | 136.41 | -0.2% | 1.0% | 4.8% |
Seattle | 147.54 | -0.7% | 0.2% | -7.9% |
Tampa | 138.87 | -0.6% | -0.4% | -11.0% |
Washington | 178.82 | -0.2% | 0.5% | 1.9% |
Source: Standard & Poor’s and FiservData
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