After a marked rise in home prices, a recent study called the Case-Shiller Home Price Index suggests home prices for our region are decelerating. Prices are still rising, but at a considerably lower rate than before.
Soft Landings Are Best When You Stay Above Water
Unlike dips in the past where homeowners were pulled ‘underwater’ and frequently owed more than their property was worth, a potential ‘soft landing’ could actually be good news.
Portland Case-Shiller Home Price Index Chart
That’s because moderate home price deceleration helps make more sustainable our market gains that began well after the 2007 Great Recession. To be clear, in many areas both locally and nationally, home prices continue to rise. But now it appears Portland’s market trajectory has generally lowered to a more reduced ascent.
This RMLS price chart confirms new figures from the Case-Shiller Home Price Index
The above Regional Multiple Listing Service chart shows how Portland metro area home prices were hit hardest between 2007 and 2011.
Home Prices: 10 & 20 City Composite Index – Home Prices Still Up, But Decelerating
The Case-Shiller Home Price Index (HPI) is considered an authoritative source for home prices on the nation’s largest real estate markets.
Home Price Changes Depend on Location, Nationally & Regionally
Compared nationally, the Portland metro area fared pretty well, with more than a 7% home price increase over the past year. Home prices nationwide rose just over 5% annually.
Click here to view the latest Case-Shiller Home Price Index report.
