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National Index Improves, Portland Follows Trend
July’s Standard & Poor’s Case-Shiller home price index shows continued month-over-month improvement across most index cities. Of the 20-city index, only Seattle and Las Vegas showed monthly declines.
In Portland’s case, the home price index improved 1.1% over June’s number, which was up 1.0% over May’s result. This is consistent with the multiple listing service reports that show prices basically flat through most of 2009. The index pegs Portland’s July 2008 to July 2009 comparison at -13.9%.
Below is a chart of Portland, Seattle and the overall index. The green trace is San Diego, which some readers use as Portland’s bellwether city for forecasting purposes.
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