Portland
home prices have increase 12.5% over the year after dropping 0.34% between
October and November according to the latest S&P/Case-Shiller report. The non-seasonally
adjusted October-to-November slip was the first price drop the Metro area has
seen in 8 months.
The
10-city and 20-city composites increased 13.8% and 13.7% year-over-year. Both composites
dropped 0.1% from October-to-November following nine consecutive months of
gains.
Dallas
saw its strongest annual gain of 9.9% since 2000 and Chicago knocked it out of
the park with an annual rate of 11%, its highest since December 1988.
The
decline in prices is no surprise as they usually weaken as we move closer to winter.
Still, the 10-city and 20-City Composites showed the best November since 2005.
Portland Metro Home Price Index
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