The monthly December-January decline in the Portland Case-Shiller index was 3%, the greatest Portland decline in the 20+ year history of the index, as was the Year to Year decline from Jan 09-Jan 08.
(In fact, each of the last 3 monthly Portland declines have been the worst in the history of the index, and each of the last 12 months have seen the highest year to year declines on record).
The year to year decline was 14%, and the decline since the peak month of July 2007 was 17.5% . The national press release is HERE.
..But Less Ouchy on a Relative Basis
As bad as those declines are, I constructed a table HERE that shows that Portland moved UP in the rankings by metro area, compared to December.
Month to Month Metro Ranking (20 Metro Areas)
- Portland ranked 10th. best in December, the January ranking improved to 6th. best.
- Portland ranked 8th. best in December, the January ranking improved to 7th. best.
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