In PSU’s Quarterly & Urban Development Journal 2010 First Quarter report, “Housing Market Analysis,” Scott Aster publishes a graph that further emphasizes that real estate local. Three of the RMLS areas studied appreciated during the first quarter of the year. The rest were all in a state of decline. North Portland is the only area that was positive over last year overall.
It’s also important to note that different studies use different methodologies. Keeping in mind that Case Shiller reports lag three months, that report has shown the market as being fairly flat recently.