Portland Home Price Index Drops 2% Year to Year, Decline Since July 07 Peak is 5.5%.

The S&P/Case-Shiller February 2008 metro home price data was released Tuesday morning. My calculations for the Portland Metro area:

• YEAR TO YEAR (Feb 07-Feb 08): The Portland metro index decreased from 179.90 to 176.24, a 2% decrease. This is 4 times the .5% year to year decline for January.
  
• MONTH to MONTH (Jan 08-Feb 08): The Portland metro index dropped from 178.81 to 176.24 , a 1.4% decrease.
• DECLINE FROM JULY 07 PEAK:This marks the seventh month in a row the Portland metro index has declined--the peak index month was July 07 at 186.51; the decline since then has been 5.5%.
• The PDF of the Case-Shiller national press release notes for February are HERE; the Excel file with data for all metro areas is HERE.