The Case Shiller Home Price Index report for November 2015 was published this morning. The quick take:
- November to November Portland rose 11.2%. The 20 City Composite Index rose 5.7%.
- As of November Portland was 1.6% above the peak in July 2007. The 20 City Composite Index was still -11.5% from the national peak in July 2006 (that’s right, the rest of the country still hasn’t caught up).
- Portland has also risen above the 4.0% long term growth line. According to conventional wisdom, U.S. housing prices have risen 4% per year, on average, since World War II. Robert Shiller’s research, by the way (yes, that Robert Shiller) shows that trend extending from 1890, the time of the Second Industrial Revolution.
Remember, Case Shiller measures same-home resales over 90 days, so it is more accurate than many measures in some senses, but doesn’t reflect trend changes for a couple months. It’s also a two months behind (November’s report, for instance, was published today).
Interested in learning your home’s value? Call us at 503.222.4300 for a complimentary consultation!