Correction 2: I discovered that my comparisons to peak index values shown in text were wrong, because peak month for Portland was July 2007 [186.51], NOT June 2007 [185.61]. I have corrected text and table below AND added a column to right showing change from March 2010 LOW of 143.61.
Correction: Changed Portland text to reflect slowed increase instead of prior "reversal".
National PR is HERE:
Correction: Changed Portland text to reflect slowed increase instead of prior "reversal".
National PR is HERE:
Data through June 2010...show that the U.S. National Home Price Index rose 4.4% in the second quarter of 2010, after having fallen 2.8% in the first quarter. Nationally, home prices are 3.6% above their year-earlier levels. In June, 17 of the 20 MSAs covered by S&P/Case-Shiller Home Price Indices and both monthly composites were up; and the two composites and 15 MSAs showed year-over-year gains. Housing prices have rebounded from crisis lows, but other recent housing indicators point to more ominous signals as tax incentives have ended and foreclosures continue."
Portland: Annual Increase from May Slows
The Portland index value of 148.73 for June is a .18% increase from the June 2009 index value of 148.47. This is a slowing from the May 2010 annual increase of 1.2%, the FIRST Year to Year increase since December 2007.
The Portland June index value month to month increase of .51% was a slowing from the 1.18% monthly rate of increase in May and the 1.84% monthly increase in April.
Price impacts from the elimination of the federal home buyer tax credit could result in further slowing OR reductions in the Portland index in coming months.
As of June 2010 the Portland home price index had declined 20.26% from the July 2007 peak, but was up 3.6% from the March 2010 low.
Table below shows Portland changes by month for last year:
| Month | Index | Change From July 2007 Peak | Change Prior Month | Change Prior Year | Change From March 2010 Low |
| June 2010 | 148.73 | -20.26% | 0.51% | 0.18% | 3.6% |
| May 2010 | 147.98 | -20.7% | 1.2% | 0.69% | 3.0% |
| April 2010 | 146.25 | -21.6% | 1.8% | -0.4% | 1.8% |
| March 2010 | 143.61 | -23.0% | -0.1% | -2.8% | 0.0% |
| February 2010 | 143.69 | -23.0% | -2.4% | -4.8% | 0.1% |
| January 2010 | 147.29 | -21.0% | -1.8% | -4.2% | 2.6% |
| December 2009 | 149.95 | -19.6% | -0.3% | -5.4% | 4.4% |
| November 2009 | 150.38 | -19.4% | 0.3% | -7.5% | 4.7% |
| October 2009 | 149.88 | -19.6% | 0.1% | -9.9% | 4.4% |
| September 2009 | 149.72 | -19.7% | -0.5% | -11.8% | 4.3% |
| August 2009 | 150.46 | -19.3% | 0.3% | -12.5% | 4.8% |
| July 2009 | 150.06 | -19.5% | 1.1% | -13.9% | 4.5% |
| June 2009 | 148.47 | -20.4% | 1.0% | -15.2% | 3.4% |
Originally created and posted on the Oregon Housing Blog.
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