Most major metro areas are seeing a decline in home prices - except for Portland, Seattle and Charlotte. Seems to be a recurring story lately, as the Portland Oregon real estate market keeps on showing positive numbers. S&P just released their Case-Shiller Home Price Index which indicates that largest overall decline in the indexes 20 year history. The report shows 17 of 20 metro areas reporting a one year decline, while the three others reporting flat to moderate growth.

Leading the declines are the following cities:

• Miami (-17.5%)
• Las Vegas (-15.3%)
• Phoenix (-15.3%)
• San Diego (-15%)
• Los Angeles (-13.7%)

The three metro area still seeing annual appreciation are:

• Charlotte (2.3%)
• Portland (1.2%)
• Seattle (0.5%)

Will the Portland Oregon real estate market remain above water as we head into the spring? Historically, home sales pick up in the spring after dragging during the winter months. We will keep you updated on the Portland housing market as we see new reports published in the coming weeks.

See the complete Case-Shiller press release for all the numbers.

Related posts:

1. Portland Home Prices Finally Fall in March
2. Spring Cleaning the Portland Way: Green
3. Mortgage Market Guide for Week of March 3rd
4. Portland City Limits Real Estate Market Report May 2008
5. Prices flat, NOT DOWN for Portland Real Estate in March