Comments on: Case-Shiller Numbers Begin to Settle – Portland Ranks Mid-Pack http://repdx.com/2009/06/30/case-shiller-numbers-begin-to-settle-portland-ranks-mid-pack/ Portland Oregon Real Estate Resources Thu, 22 Jul 2010 01:21:20 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Uncle_Git http://repdx.com/2009/06/30/case-shiller-numbers-begin-to-settle-portland-ranks-mid-pack/comment-page-1/#comment-2609 Uncle_Git Tue, 07 Jul 2009 17:30:49 +0000 http://repdx.com/?p=723#comment-2609 It's pretty typical during spring for the market to be a bit buoyed - these numbers are lagging by 2 or 3 months so Case Schiller is pretty much representing peak season here - with prices still falling. I'd be interested to see some kind of breakdown of sales as to the values of the properties moving. From watching California the way it played out was the low end crashed first, with the high end holding on longer - but very little moving. Now it's tanking and sales have picked up slightly in the lower end of the market (< $250k) as value returned though price depreciation. It'll be interesting to see if Portland follows the same path. Our foreclosures are starting to crank up as we approach 20% declines from peak - people who are underwater and facing resets will be taking a long hard look at their options. With Portland approaching 13% unemployment the outlook isn't exactly requiring shades.... I did note that CAR announced they had a "Data snafu" with their sales data in So Cal and will be revising the spring sales numbers down by 85%. Yes you read that right - 85%. Funny how the "data snafu" happened at peak season just in time to push a few fence sitters off the fence by giving the impression the market was turning. If I was the suspicious type..... It’s pretty typical during spring for the market to be a bit buoyed – these numbers are lagging by 2 or 3 months so Case Schiller is pretty much representing peak season here – with prices still falling.

I’d be interested to see some kind of breakdown of sales as to the values of the properties moving.

From watching California the way it played out was the low end crashed first, with the high end holding on longer – but very little moving. Now it’s tanking and sales have picked up slightly in the lower end of the market (< $250k) as value returned though price depreciation.

It’ll be interesting to see if Portland follows the same path. Our foreclosures are starting to crank up as we approach 20% declines from peak – people who are underwater and facing resets will be taking a long hard look at their options. With Portland approaching 13% unemployment the outlook isn’t exactly requiring shades….

I did note that CAR announced they had a “Data snafu” with their sales data in So Cal and will be revising the spring sales numbers down by 85%. Yes you read that right – 85%.

Funny how the “data snafu” happened at peak season just in time to push a few fence sitters off the fence by giving the impression the market was turning.

If I was the suspicious type…..

]]>