Tuesday, February 23, 2010

Portland Home Values: Case-Shiller December Numbers

The Case-Shiller numbers are apparently so popular now that the Standard and Poors website is non-responsive, so I'll just steal this interactive data table from The Wall Street Journal's Economics Blog.

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   
Atlanta108.52-0.7%0.0%-4.0%
Boston153.77-0.1%0.9%0.5%
Charlotte117.78-0.7%0.1%-3.8%
Chicago127.27-1.6%-0.6%-7.2%
Cleveland103.93-0.8%-0.2%-1.2%
Dallas118.84-0.9%0.1%3.0%
Denver127.2-0.8%0.1%1.2%
Detroit72.590.0%0.2%-10.3%
Las Vegas104.390.2%0.9%-20.6%
Los Angeles171.41.0%1.4%0.0%
Miami148.66-0.3%-0.2%-9.9%
Minneapolis123.32-0.5%0.3%-2.3%
New York171.91-0.7%-0.5%-6.3%
Phoenix112.530.5%1.2%-9.2%
Portland149.95-0.3%0.5%-5.4%
San Diego156.290.1%1.1%2.7%
San Francisco136.41-0.2%1.0%4.8%
Seattle147.54-0.7%0.2%-7.9%
Tampa138.87-0.6%-0.4%-11.0%
Washington178.82-0.2%0.5%1.9%
Source: Standard & Poor’s and FiservData

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