The Q3 Case-Shiller Report

30 11 2010

Will it pass quickly and mercifully?

Portland is down again along with 17 other metropolitan markets.  According to David Blitzer, Chairman of the Index Committee for Standard and Poor’s, “many analysts will argue that a double dip will be confirmed before Spring.”

All in all, the indices show a decline of 2% in the third quarter after the gain of 4.7% in the second quarter.  Eighteen metropolitan cities and the two composite indexes were down from August to September of this year.  

The peak of prices in June/July 2006 has declined 33.5% (10-City) and 32.6% (20-City) to date.  Nationally, prices are now at mid-2003 levels. 

From August to September, Portland is down 1.9% and 3.6% for the year to date.  Seasonally adjusted, this decline is 1.7%.

The good news, if you bought your home in the year 2000, according to Standard and Poor’s, we are still up 44.3% overall.  Portland is number 8 on the list for appreciation since 2000.  Washington D.C. and Los Angeles are at the top.

Hang in there, the storm isn’t as bad as last year where the lowest prices seem to be on record.  Hopefully, this dip will be merciful if the economy can find new life soon.

–Dustin Miller

Q3 S&P/Case-Shiller Report in Full

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