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