Death, taxes and Case Shiller on the last Tuesday of the month. Pretty much like clockwork but the Case Shiller Index for Portland, and other markets, hasn’t been quite as painful as the first two in recent months. The Portland real estate market remains flat, posting a .1% loss from September.
The Portland Case Shiller Index is at 149.88 [note the report lags three months so this is through September]. This represents a 49.88% increase in value from January 2000 when the Index was set to 100. The Index tracks 20 cities and Portland’s appreciation ranks sixth since then. Washington (179.71), New York (175.01) and Los Angeles (168.43) lead the way with Detroit bringing up the rear at 73.97. Detroit is the only city ranked in double digits; #19 Las Vegas is 104.70. Case Shiller reminds us: “Data presented in the spreadsheets are calculated monthly using a three-month moving average and published with a two month lag.”