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National Housing Numbers vs. Portland’s Performance
A couple national reports compare major metro real estate markets and for the moment, Portland remains among the stronger performers–news that will ring hollow to many local home sellers.
Standard & Poor’s Case-Shiller report for May 2008 pegs the one-year average price decline at -15.5% across its 20-city index, while Portland registers as the 4th strongest market over the past 12 months at -5.2%.
| City |
April 08
vs. May 08 (1 month change) |
May 07
vs. May 08 (1 year change) |
| Charlotte |
1.35%
|
-0.20%
|
| Dallas |
1.25%
|
-3.10%
|
| Denver |
1.23%
|
-4.80%
|
| Portland |
0.66%
|
-5.20%
|
| Boston |
1.66%
|
-6.20%
|
| Seattle |
-0.90%
|
-6.30%
|
| Atlanta |
0.80%
|
-7.90%
|
| New York |
-0.90%
|
-7.90%
|
| Cleveland |
-0.67%
|
-8.00%
|
| Chicago |
-0.41%
|
-9.40%
|
| Minneapolis |
0.79%
|
-14.80%
|
| Washington DC |
-1.91%
|
-15.40%
|
| Detroit |
-1.15%
|
-17.40%
|
| Tampa |
-1.36%
|
-20.20%
|
| San Francisco |
-1.93%
|
-22.90%
|
| San Diego |
-2.53%
|
-23.20%
|
| Los Angeles |
-3.93%
|
-24.50%
|
| Phoenix |
-4.01%
|
-26.50%
|
| Miami |
-7.23%
|
-28.30%
|
| Las Vegas |
-4.85%
|
-28.40%
|
| 20 City Average |
-1.46%
|
-15.50%
|
In other housing news today, the Wall Street Journal reports that Portland has the 2nd fastest growing housing inventory (27.8% growth over 1 year ago) in their 28 market index, but is still half that of Las Vegas.
Interestingly, at just 3%, Portland has the 6th lowest number of overdue loan payments in WSJ’s quarterly metro area index. Here’s a link to their interactive table and a link to the article.
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