Six continual months of (minimal) Portland real estate price appreciation has slipped away in the last two month. The Case Shiller Index, released this morning shows Portland lost 2.18 points to end November at 133.26, essentially the same level as February of last year.
The Case Shiller Index reports “Portland Metro” as the seven county MSA and lags sixty days. RMLS reports a five county “Portland Metro” and the mid-month report features the previous month. In January 2000 the Index was reset to 100. Portland peaked at 186.51 in August 2007. In contrast, the Composite 20 Index peaked at 206.52 in July 2006. Both indices were almost identical in July 2010 at 148 and now the Composite 20 is five points ahead of Portland.