Tuesday, January 31, 2012

Home Prices Fall Again in Portland

Mirroring widespread weakness in the housing market, the S&P Case-Shiller index reported home prices in Portland fell by 1.6 percent in November, 4.8 percent lower than November 2010.

A turning point is not seen as close at hand according to a Case-Shiller spokesman.

Meanwhile, another barometer of housing market health, the local Regional Multiple Listing Service reported that the Portland area median home price in November fell 3.4 percent year-over-year and December prices showed a year-over-year drop of 6.2 percent.