The September 2008 Case-Shiller home price index for Portland went down again from August, decreasing again by 1.3%.
The 8.6% annual decline from September 2007 was the largest decline in the 20+ years where annual change data is available, topping the prior record year to year decline of 7.6% set only last month.
A summary of the September data:
1. YEAR TO YEAR (September 07-September 08): The Portland metro index decreased from 181.71 to 169.67, a 8.6% decrease.
2. MONTH to MONTH (August 08-September 08): The Portland metro index decreased from 171.93 to 169.67. a 1.3 % decrease.
3. DECLINE FROM JULY 07 PEAK: The peak index month was July 07 at 186.51; the decline since then is now 9%.
4. RANKING: In January of this year, Portland had the 2nd. best (lowest reduction) year to year metro ranking ; our ranking in August slipped to to 7th.and stayed at that ranking in September.
5. The PDF of the Case-Shiller national press release for August is HERE.
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