Portland home prices fall


Home prices in Portland and most other U.S. cities fell in November, showing widespread weakness in the housing market.

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Home prices in Portland and most other U.S. cities fell in November, showing widespread weakness in the housing market.

 

The S&P Case-Shiller index of home prices in 20 cities fell 1.3 percent for the month, a 3.7 percent decline from a year earlier. 

Portland, one of cities surveyed, fell even harder. A 1.6 percent decline in November brought prices 4.8 percent lower than the same month a year earlier.

“Nationally, home prices are lower than a year ago,” said David M. Blitzer, the chairman of S&P’s index committee. “The trend is down and there are few, if any, signs in the numbers that a turning point is close at hand.”

Read more at OregonLive.com.

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