Tuesday, May 25, 2010

Portland Home Values: Case-Shiller March Numbers

Farmed out entirely to the Wall Street Journal's Real Time Economics Blog:

Home Prices, by Metro Area

Metro Area   March 2010   Change from February   Year-over-year change  ↓
Las Vegas102.58-0.8%-12.0%
Detroit67.66-4.1%-4.6%
Charlotte114.74-1.1%-3.9%
Seattle143.730.1%-3.6%
Tampa136.46-0.1%-3.5%
Portland143.61-0.1%-2.8%
New York169.42-0.7%-2.4%
Chicago119.71-2.3%-2.3%
Miami146.15-0.9%-1.7%
Atlanta103.74-1.8%-1.3%
Phoenix109.52-0.5%2.4%
Dallas115.740.4%3.0%
Boston151.420.0%3.8%
Denver125.310.6%4.1%
Washington175.28-0.7%5.6%
Los Angeles170.62-0.7%6.0%
Minneapolis116.66-2.7%6.5%
Cleveland103.321.8%6.7%
San Diego160.221.5%10.8%
San Francisco136.741.5%16.2%

Portland is not a particularly bad market, nor is it particularly good and I don't expect this to change any time soon. I think, as I have said before, that we are like to go through all of 2010 without too much appreciation or depreciation.  The new home buyer tax credit will expire, but the summer season will pick up and long-term mortgage rates are still incredibly low (helped now, ironically, by the troubles in Europe as the Dollar becomes a safer bet than the Euro), however unemployment will continue to depress housing. Which all means it is about as good a time to buy as you are likely to see in your lifetime as long as you are in it for the long -term.

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