OFHEO/FHFA Home Price Index: Portland Decline a LOT Less than Case Shiller Reported Decline; State Index Also Included.

Large national release HERE includes states and some Metro areas, including Portland.

OFHEO/FHFA says Portland metro index (which includes both refinance and purchases) declined by 5.2%, ranking 240th amongst metro areas. (Metro area information starts on page 30 of release).

Note however that the 5.2% Portland FHFA/OFHEO 1 year price index decline (page 39 of the FHFA/OFHEO release) is SUBSTANTIALLY less than than the 13.1% yearly decline for Portland reported by Case Shiller today (my post on Case Shiller index, from earlier this morning, is HERE).

For STATES, I constructed a table HERE that compares states (for states index uses purchase data only, no refinances).

It shows that Oregon ranks 37th in year to year change, and 38th in quarterly change. When looked at over 5 year period however, Oregon ranks 6th best. And since 1991, Oregon ranks 3rd best.