Monday, October 25, 2010

A Core Logic Warning for Portland Prices

The Core Logic August 2010 Home Price Index (HPI) report today has a familiar ring to it no? Well...maybe. California is in better shape year over year than Oregon?!?!? What happened to California home prices from 2007-2010? What now awaits Oregon 2010-2013?

" “Price declines are geographically expanding as 78 out of the largest 100 metropolitan areas are experiencing declines, up from 58 just one month ago” said Mark Fleming, chief economist for CoreLogic. The top five states with the greatest depreciation, including distressed sales, were Idaho (-14.0 percent), Alabama (-10.4 percent), Utah (-7.3 percent), Oregon (-6.3 percent) and Florida (-6.2 percent). "

Source: Core Logic