Posted on February 25, 2014
The national Case Shiller report for December 2013 was released this morning. Portland remained flat in December at 159.84. During the traditional “slowdown season” of real estate, the Portland market has hovered at this level since August. The Case Shiller Index report has a two month lag and reports on the Portland Metro MSA. This is a seven county area compared to RMLS Market Action’s five county report. RMLS data is only 15 or so days old when it is released. The current market is good for both sellers and buyers. Low inventory means buyers are competing for property. Low interest rates and prices that have yet to recover to normal appreciation rates still makes property based on past history a good value when looking at the macro market. Real estate is local so both reports need to be used as a guide, not an absolute. RMLS breaks down into smaller areas but must requires additional math to get localized inventory levels.