The Case Shiller index lags real time by sixty days so we won’t be able to see if their results match RMLS for Portland real estate January.  The Case Shiller Index dropped from 139.92 to 138.23.  That’s a pretty small drop compared to the 10% loss reported by RMLS in their last report for average sales price.  The reports use different methodology and areas to define “Portland.”

The graph below shows that today’s index is roughly the same as March 2005.