U.S. National Home Price Index declined 2.0% in the third quarter of 2010, after having risen 4.7% in the second quarter. Nationally, home prices are 1.5% below their year-earlier levels. In September, 18 of the 20 MSAs covered by S&P/Case-Shiller Home Price Indices and both monthly composites were down; and only the two composites and five MSAs showed year-over-year gains. While housing prices are still above their spring 2009 lows, the end of the tax incentives and still active foreclosures appear to be weighing down the market.
Portland: Both Annual and Monthly Changes are Negative, Again.
The Portland index value of 144.30 for September is a 3.6% decrease from the September 2009 index value, and follows a 2.3 % decrease from the August 2009 index value and a 1.2% annual decline from July. The Portland index has now decreased each month this year compared to this same month last year.
The Portland September index was a 1.85% decrease from August, and the August index was a .88% decrease from July.
As of September 2010 the Portland home price index had declined 22.3 % from the July 2007 peak, was now only .5% above the March 2010 low, and is down 2% since January.
Table below shows Portland changes by month for last year:
| Month | Index | Change From July 2007 Peak | Change Prior Month | Change Prior Year | Change March 2010 Low |
| September 2010 | 144.30 | -22.3% | -1.85% | -3.6% | 0.5% |
| August 2010 | 147.02 | -20.9% | -0.88% | -2.3% | 2.4% |
| July 2010 | 148.33 | -20.1% | -0.27% | -1.2% | 3.3% |
| June 2010 | 148.73 | -20.3% | 0.51% | 0.2% | 3.6% |
| May 2010 | 147.98 | -20.7% | 1.18% | 0.69% | 3.0% |
| April 2010 | 146.25 | -21.6% | 1.84% | -0.4% | 1.8% |
| March 2010 | 143.61 | -23.0% | -0.06% | -2.8% | 0.0% |
| February 2010 | 143.69 | -23.0% | -2.44% | -4.8% | 0.1% |
| January 2010 | 147.29 | -21.0% | -1.77% | -4.2% | 2.6% |
| December 2009 | 149.95 | -19.6% | -0.29% | -5.4% | 4.4% |
| November 2009 | 150.38 | -19.4% | 0.33% | -7.5% | 4.7% |
| October 2009 | 149.88 | -19.6% | 0.11% | -9.9% | 4.4% |
| September 2009 | 149.72 | -19.7% | -0.49% | -11.8% | 4.3% |
Originally created and posted on the Oregon Housing Blog.
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