Case Shiller May 2010: Portland Has FIRST Year to Year Increase In 2 1/2 Years; Month to Month Increase Also Recorded.

National PR is HERE:

    “Data through May 2010, released today by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show that the annual growth rates in 15 of the 20 MSAs and the 10- and 20-City Composites improved in May compared to those reported for April 2010. The 10-City Composite is up 5.4% and the 20-City Composite is up 4.6% from where they were in May 2009. While 19 MSAs and both Composites reported positive monthly changes in May over April, only 12 of the MSAs and the two Composites saw better month-over-month growth rates in May than those reported in April."

Portland: First Year to Year Increase Since December 2007, Continued Month to Month Increase, Too.
The Portland index value of 147.98 for May is a .69% increase from the May 2009 index value of 146.97. This is the FIRST Year to Year increase since December 2007, when a 1.2% Year to Year increase was recorded.

May also saw a month to month increase, however the 1.18% monthly rate of increase was down from the 1.84% monthly increase in April. Price impacts from the elimination of the federal home buyer tax credit did not appear to directly affect May data, but may have future impacts on pricing.

As of May 2010 the Portland home price index had declined 20.34% from the June 2007 peak.

Table below shows monthly Portland changes for last year:

Month	Index	Change Since Peak	Change Prior Month	Change Prior Year
May 2010	147.98	-20.3%	1.2%	0.7%
April 2010	146.25	-21.3%	1.8%	-0.4%
March 2010	143.61	-22.7%	-0.1%	-2.8%
February 2010	143.69	-22.6%	-2.4%	-4.8%
January 2010	147.29	-20.7%	-1.8%	-4.2%
December 2009	149.95	-19.3%	-0.3%	-5.4%
November 2009	150.38	-19.0%	0.3%	-7.5%
October 2009	149.88	-19.3%	0.1%	-9.9%
September 2009	149.72	-19.4%	-0.5%	-11.8%
August 2009	150.46	-19.0%	0.3%	-12.5%
July 2009	150.06	-19.2%	1.1%	-13.9%
June 2009	148.47	-20.1%	1.0%	-15.2%
May 2009	146.97	-20.9%	0.1%	-16.3%

Originally created and posted on the Oregon Housing Blog.