PDX home prices drop

The Case-Shiller Index says Portland home prices fell by 0.5% from August to September.

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Data for the Case-Shiller Index show Portland home prices dropped by 0.5% between August and September and fell by 11.8% year over year.

For the 18th straight month, no area in the 20-city index posted a year-over-year price gain. September also marks the quarterly release of the broader National Home Price Index, which posted its second consecutive quarterly increase though it remains 8.9% lower than a year earlier.

“The gains in the most recent month are more modest than during the seasonally strong summer months. Fewer cities saw month to month improvements in September than in August in both seasonally adjusted and unadjusted figures,” said David M. Blitzer, chairman of the Index Committee at Standard & Poor’s.

Read more at the Wall Street Journal.

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