A Note on the Case-Shiller PDX Numbers

The August Case-Shiller numbers are out and finally the Portland area has some strong growth to report.  August is in the prime home buying season and it is good to finally see some good numbers after trolling for so long on the bottom.  Now we wait to see if this trend can be sustained.

From the O:

Month-over-month growth has slowed, and Case-Shiller may reflect the usual seasonal decline in home prices in coming months. "Fits and starts would fit with the general pattern you might expect," said Josh Lehner, an economist with the Oregon Office of Economic Analysis. "When you're at this low level of growth, you're very susceptible to shocks. If you're at stronger growth levels, you're a little more isolated from these kinds of variations."

Well said.  With this and the rosy prognosis of the Fed, perhaps better days are ahead for our state...