NLIHC: Portland Metro Lower Priced Homes Had Smaller Decline than Higher Priced Homes.

NLIHC story from Memo to Members is HERE. (They looked at Case-Shiller Tiered housing price data available HERE.)

Portland not typical of other metro areas according to the story:

"Looking at the change over the past two years, housing prices in the lower cost tier (bottom third of the housing market) have declined 34% while the prices of houses in the higher cost tier (top third of the housing market) have declined by 20%, on average, across metropolitan areas. The decline in housing prices does appear to be moderating somewhat. At 27%, the average rate of decline among metropolitan areas in the past year for homes in the lower tier was well below the two-year rate. Similarly, since 2007 the price index for high tier homes fell at a lower 16%."

...."Portland saw low-tier housing prices, those priced below $232,305, fall 10%, while high-tier homes, those priced above $325,253, saw nearly equal losses of 12%"