Portland Home Values: Slight Increase in May

The May 2011 Case-Shiller numbers are out and the values increased 1.6% over the previous month for Portland.  16 out of the 20 metro areas in the index saw increased home values.  What I have plotted above are the seasonally adjusted numbers which show a slight decline for Portland (not the normal spring uptick).  Annually Portland lost 9.1% of its home value which puts us in the top 5, not surprising given the state's unemployment levels.  Overall the 20 city index showed a 1% gain for the month, but a 4.5% loss from a year ago.  I still feel reasonably good about my statement at the beginning of 2011 that I didn't think that the year would see substantial decreases or increases but there are 7 more months of data to go so we'll see.