Portland Was Only Metro Area Where Homes in Low Price Tier in Case-Shiller Index Declined Less than Overall Decline in Price Index for That Area.

Interesting story in NLIHC Memo to Members HERE caught my eye this morning.

I went back to the linked Case-Shiller tiered data referenced in the story and constructed a table that shows annual metro area price declines by pricing tier.

As NLIHC story indicates, Portland was the only metro area where the annual decline in lower tiered prices was less than the overall price change.

As far right column in my analysis HERE shows, the lower tiered price home annual decline of 5% for Portland metro area was 25% less than the overall Portland metro decline of 6.6%.

In contrast, in Minneapolis the price decline for lower tier priced homes was 41% greater than the overall decline.

Pretty interesting, no?