Portland existing home prices up slightly in June - Case Shiller

The latest Case Shiller data was released yesterday, and prices in Portland have ticked up 1% from May to June.

Year over year we're still down 15.2% and we're down 20.4% from the peak.

It looks like the $8k credit might be having an effect, but it's still a bit premature to signal the bottom.

Tune in later for full charts / analysis, but the raw data is available above for the data hounds out there.

Portland Median Price down 2% in April - RMLS

The June RMLS report was released today, and it shows a 2% decline from $295k in June 2007, to $289k in June 2008.

Months of inventory are at 9.5 months, almost double the 5.0 months for June 2007, and 4 times the 2.6 months during the peak of the bubble in June 2006.

Closed sales are down 31.3% from June 2007, and pending sales are also down 30%. New listings are only down 16.3% year over year, which to me means that people have figured out that they should only list their house if they absolutely need to sell it.

I still don't see signs of a bottom, but hang on, the ride will only get bumpier what with the Fannie Mae / Freddie Mac issues now coming to light.

Months of inventory are still high at 9.5 months.