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Portland home prices see further declines

December 5, 2008

Dr. Eric Fruits, Ecobnomist

Portland housing prices dropped another 1.3 percent in September, marking the fourth straight month of declining home prices. Nationwide, the Case-Shiller composite index continued 27 months of declines. While Portland’s market has not seen the same declines as the composite, the graph to the right suggests that the Portland market lags the the composite by about a year. If this trend continues, Portland may see further drops in home prices over the next year or so.

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