The Case-Shiller July numbers are out and Portland, though far from being the best, is looking pretty good. Home values in the Portland area increased 1.2% between June and July and 3.2% from July 2011 to July 2012. This puts Portland about middle of the pack. The Wall Street Journal has a nice interactive graphic that is sortable by monthly and annual change.
Given where long term interest rates are and the resulting amazingly low mortgage rates, the housing market is starting to look like it can finally sustain a rise in home values.