Portland Home Values Beat National Trend. Finally...

The Standard & Poor's/Case-Shiller index shows prices dropped in September from August in 17 of the 20 cities tracked. That was the first decline after five straight months where at least half of the cities in the survey showed monthly gains. 

Portland wasn't able to enjoy gains through the summer.  However, in Portland sales did rise as prices remained flat or modestly declined.  Less sellers also entered the market this summer, creating balanced inventory in many areas of Portland. 

Portland, Oregon was one of only three cities on the list to show an increase in home prices in the latest survey. Portland home prices inched up by 0.1 percent in September compared to August. However, Portland home prices were down by 5.7 percent compared to last September.

Although, the increase is nothing to write home about, it's a small win to know that as other markets are seeing seasonal declines, Portland may be exiting the long cold winter of home value wreckage.  Case Schiller reporting, is typically 2 months behind in data, and local MLS stats are showing the last 2 months have continued to be good.

A separate index for the July-September quarter shows prices were unchanged from the previous quarter.

Atlanta, San Francisco and Tampa posted the biggest monthly price declines. Prices in Atlanta, Las Vegas and Phoenix fell to their lowest home point since the housing crisis began four years ago.

Prices also rose in New York and Washington.