S&P Case-Shiller June 29, 2016

30 06 2016

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Case-Shiller Index Numbers

So let’s break down the hype for Portland, Oregon…yes, we are breaking records for prices over the entire country.  Is it really news to those of us who have been here for 20+ years that the mountains and oceans are about an hour and half away?  And people came here in droves, including my ancestors in 1852 to stake a claim on fertile land open for the opportunity to be you.  Whoever you wanted to be without your neighbor judging you.  The topography, scenic nature and growing industry are a draw for all who have eyes on us around the country.

Hey, Timbers Army, whadya think?  As we paraded the streets with “too hot” scarves adorned in double-axed insignia, it never crossed our minds that this might be a great place to land for, ya know, like, everyone.

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So here we are leading the nation in appreciation year over year on the Case-Shiller report.  Duh.

Now, let’s see what that means for those on mother Oregon’s soil already.  Bubble?  Too soon to tell.  What we do know is that the bubble nightmare of 2008 is as fresh as Sept. 11th is to us with the recent Turkish Bombings.  A few folks will push the envelope on risk, but the majority of us won’t pay $8.00 for a gallon of milk unless Armageddon is evident.

So the Case -Shiller is really reporting what we all already know…this is a great place to land and stay.  Secondly, it is telling us places like Seattle, Denver, Dallas, San Diego, Tampa are still good spots too.  Where not to go?  Maybe New York, Washington, Cleveland, Chicago, Tampa would hit the bottom of your list.  Detroit rocked all of our expectations this year with a 5.7% return year-over-year which beat those mentioned above.  Detroit over New York, really?  Yes, if you want to make money in real estate according to the S&P Case -Shiller for April 2016.

National

  • 5% up from last year
  • 1% up from last month

Twenty (20) city  —(Atlanta, Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Detroit, LasVegas, Los Angeles, Miami, Minneapolis, New York, Phoenix, Portland, San Diego, San Francisco,  Seattle, Tampa, Washington.)

 

  • 4% up from last year
  • 1% up from last month

10 city—(Boston, Chicago, Denver, Vegas, LA, Florida, N.Y., San Diego, Miami, San Francisco)

  • 7% up from last year
  • 1.0% up from last month

 

Portland–#26 in population countrywide but included nonetheless. Take note Timbers Army.

12.3% up from last year

1.7% up from last year

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The Actual Report:Case Shiller June 28, 2016

Dustin Miller

Broker/Portland Metro Market Analyst

Realty Trust Group