Tuesday, November 25, 2008

Portland Existing Home Prices Drop 8.6% in September - Case Shiller

The median price of existing homes in the metro Portland area fell 8.6 % year over year in September 2008 according to Case Shiller, continuing the trend that began in July 2007. This is now down 9.0% from the peak in July 2007, wiping out any gains made since March 2006.

The index also fell 1.3% from August to September. The slight month over month gains we saw over the summer have now reversed and the monthly decline is accelerating.

I will post the charts later today. Stay tuned!

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2 comments:

eln said...

check this link out from the WP
http://www.washingtonpost.com/wp-dyn/content/article/2008/12/03/AR2008120302889.html?hpid=topnews&sub=AR#

This means that the people who jumped on the first bandwagon (buying a house with risky loans) get to jump on this one? With 30 year fixed of 4.5% it would be hard not to.
I'll bide my time as a persistent fence sitter, but damn, based on mortgage rates alone, it could be nearing the time.....

eln said...

It was cut:
http://www.washingtonpost.com/wp-dyn
/content/article/2008/12/03/AR200812
0302889.html?hpid=topnews&sub=AR#