Looking at the Case Shiller report this month it appears that the housing recovery is slowly taking shape, albeit inconsistently. The Portland/Vancouver market appears to have experienced declining prices year over year. On the positive side, when accounting for seasonal factors home prices have approached, or are approaching equilibrium.
With reports of home foreclosures rapidly descending in this area it may be time for the market to see some movement into positive territory.
It should also be interesting to note that the Standard and Poor’s Index launched their own blog related to housing, which can be found here. It has a wealth of additional information.
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