Case Shiller’s monthly real estate report was released this morning. Portland lost a little more ground in February (Case Shiller reports with a sixty day lag and “Portland” is the seven county MSA). The current Portland index of 133.66 is nearly identical to October 2004’s 133.6. Portland peaked in July 2007 at 186.51. At that the same time Seattle peaked at 192.92 and has now dropped just below Portland levels to 132.85. Both of the national composites are above both Portland and Seattle. Both cities were slightly above the Composite 20 for a few months in the spring of last year. Both Composite indexes are at their summer of 2003 levels. Portland has lost 7% since this time last year. Of the 20 cities tracked, only Washington DC is in positive territory since January 2010.
The complete Case Shiller Press Release for February 2011 has a broader look at the national market and a really good description at the end of what the Index is and isn’t.