May Case Schiller Portland Index: Second Straight Month to Month Increase But Year to Year Decrease.

The May 2008 Case Schiller home price index for Portland went up slightly from April to May, the second straight month to month increase. Looked at annually however, the index decreased.

A summary of the data:

• YEAR TO YEAR (May 07-May 08): The Portland metro index decreased from 185.21 to 175.53, a 5.2% decrease.
• MONTH to MONTH (April 08-May 08): The Portland metro index INCREASED from 174.87 to 175.52 a .4% INCREASE.This is the second straight month to month increase.
  
• DECLINE FROM JULY 07 PEAK: The peak index month was July 07 at 186.51; the decline since then has been narrowed to 5.9%.
• The PDF of the Case-Shiller national press release for May is HERE.
  
• From the Excel worksheet for May I counted 7 metro areas where the monthly index went up, while there were NO metro areas where the year to year index increased.