BrokerageIndustry News

Late to peak, Portland real estate market still mired in downturn

Real Estate Market Report: Portland, Ore.
Published on Jun 13, 2011

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by CareyBot

While housing markets around the country were sinking several years ago, Portland, Ore., was a holdout, relatively speaking. It has, unfortunately, made up for lost time.

Recent data tell the tale: In the Standard & Poor's/Case-Shiller 20-City Home Price Index for March, Portland's housing market was one of a dozen metros around the country among those tracked by Case-Shiller that hit their lowest points since home values began sliding more than four years ago. On a year-over-year basis, Portland prices dipped by 7.6 percent, pushing them back to levels last seen in fall 2004.

In the insult-to-injury category, also reported in early May that Portland houses have lost 30.6 percent of their value since the bubble peaked in 2007, slightly