Portland Home Price Index Drops 4% Year to Year, Off 6.5% From July 07 Peak.

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

• YEAR TO YEAR (March 07-March 08): The Portland metro index decreased from 181.72 to 174.39, a 4% decrease. This is DOUBLE the 2% year to year decline for February.
  
• MONTH to MONTH (Feb 08-March 08): The Portland metro index dropped from 176.24 to 174.39, a 1% decrease.
• DECLINE FROM JULY 07 PEAK:This marks the eighth 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 6.5%.
• The PDF of the Case-Shiller national press release notes for March are HERE; the Excel file with data for all metro areas is HERE.