Portland, Oregon Real Estate Continues Expansion
Portland Real Estate outperformed National Real Estate once again in November of 2016 according to the latest data from Standard & Poor's
The Index
The Case-Shiller Index is the product of researchers Karl Case and Robert Shiller. The data in the index is maintained by Standard and Poor’s (aka “S&P”), calculated from are repeat-sales house prices across the United States. There are multiple Case-Shiller indices including composites of 10 and 20 cities and those individual cities. The National Case-Shiller index is the most commonly cited figure for Real Estate economic indicators.
Portland, Oregon happens to be one of those 20 cities that make up the composite index, and since we’re based in Portland, we pay special attention to this figure. This figure can make a nice counter weight to all of the anecdotal observations about Portland’s housing market you’d be likely to hear in any coffee shop here. As far as using it for a “timing tool,” we simply can’t speak to that- we don’t invest in individual real estate properties, so that’s not area of expertise of ours. What we do know about the Portland Case-Shiller index is that it speaks volumes to the health of the regional economy of the Pacific Northwest.
By the Numbers
The Case-Shiller Portland housing index increased to 208.85 in November of 2016. That’s a monthly increase of 0.9%, up from 206.98 in October. Many were watching Portland’s Real Estate index headed into the year end of 2016, as signals of weakness and predictions of decline of Vancouver B.C. housing appeared in late 2016. This gave rise to speculation about the broader Pacific Northwest Region’s market strength. Clearly, the market expanded unabated in November according to the newest data released this morning.
Over the same time-frame, the National index increased by 0.19%. Portland clearly outperformed the broader U.S. Real Estate market in November. The National market’s modest expansion is not uncharacteristic for the time-frame. January to July have been the largest expansion periods across the country for Real Estate in recent years.
Case-Shiller Index
Disclaimer
This information is solely a representation of publicly available facts intended for educational use only. This is not a solicitation to buy or sell any public or private Security, in any city named in the article or elsewhere. Real Estate is a very serious investment and one that requires in depth research beyond the scope of this article.