The Case-Shiller Home Price Index for January is out and the dismal news for the Portland housing market continues. This is not surprising as a couple of years of high unemployment is bound to have a serious impact, but depressing nonetheless.
Here is a nice sortable table of the January numbers courtesy of the Wall Street Journal. The headline numbers for Portland are a 7.8% decline since January of the year before and a 1.8% decline from december to January.
I do finally think that we are moving in the right direction in general, the jobs numbers have been good and overall US growth is pretty healthy, but it will take a while before we see these improvements make their way into property values.