Case-Shiller Home Prices June 25, 2013 Report

25 06 2013

balloon
Now we are hitting records according to David Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices. “The 10- and 20-City Composites posted their highest monthly gains in the history of S&P/Case-Shiller Home Price Indices. Thirteen cities posted monthly increases of over two percentage points,” he said.

This is a little tough to chew on based on the fact that what he means is that 13 of the 20 cities posted over a 2% increase in a single month in their history. You could probably guess that we might see this again a couple times if next month it is 14 and so on.

The big concern which was not mentioned is the over 20% annual increases and whether they might be repeating history with their own bubbles. Blitzer spoke of this last month on television but did not spend a lot of time on it. Perhaps, he may touch on it today.

Portland is at 148.62 which we have seen in June 2005 on the way up, June 2009 on the way down and June 2010while we were bumping along the bottom. For the year we are safely at a 12.9% increase.

Nice job Portland on staying in the middle and not losing our minds!
off into sunset

The full report here The June 25, 2013 CS Report

Dustin Miller
Broker/Market Analyst





June 2013 Portland Metro Market Action

14 06 2013

The Wave is Here!

Once again a big increase in the Portland Metro numbers as sales continue to rebound. Closed sales are up 26.2% over last month and 27.6% over last year. Average sales prices are up 4.7% over last month and 12.6 over last year. Median sales prices are up 4.9% over last month and 14.9% over last year.

Market time is still well above the “hot” days of old at 85 days on average. In 2005 & 2006 we were closer to 38-50 days average days on the market.

The insight this month is the positive increase in month-to-month sales prices haven’t been seen since back in April 2006 where we hit a 5.42% increase in average sales price. Well, we saw it this year a couple times in March 2013 (5.69%) and a record in January 2013 (12.20%). That record in January has not been seen in recent recorded history!

A big concern is also the interest rates coupled with the slow-down in pending sales. Hopefully this isn’t a trend, but a simple glitch. Otherwise, we might see our numbers start a downward trend in the outlying areas of close-in Portland.

Compared to Last Year
Inventory down to 2.5 months.
Closed sales up 27.8%.
Pending sales up 18.1%
New listings up 17.3%.
Average Sales Price up 12.6%
Median Sales Price 14.9%

Compared to Last Month
Closed sales up 26.2%
Pending sales up 1.2% (slowing down due to inventory)
New listings up 5.8% (still couldn’t keep the inventory # from going down)
Average Sales Price Up 4.7%
Median Sales Price Up 4.9%

Keep your finger on the pulse here with me!

The Portland Market

The Full Report Here:  June 2013 RMLS Market Action

 

Dustin Miller

Broker/Market Analyst





Portland Metro Inventory Hits 2.5 Months!

13 06 2013

Shocker

The Portland Metro Regional Multiple Listing Service announced earlier yesterday that the Portland Inventory has dropped to 2.5 months. This has not been seen since June 2006 when we hit 2.6 months of inventory!

This is a small preview to an an exciting report coming out hopefully tomorrow.

Wow

Stay tuned,

Dustin Miller

Broker/Market Analyst

Realty Trust Group