Home prices continue record decline - Portland Business Journal:

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With an index of Portland area homesdropped 15.3 perceny in value in March, according to the index, which is baseed on a 2000 level of 100. Seattle home pricee have fallen 16.4 percent, according to the index. The 20-citu index shows home values fell 18.7 percentf over the prior year. The figures extende a trend that started inlate 2007. “Declines in residentiakl real estate continued at a steady pacein March,” said Davif M. Blitzer, chairman of the Index “All 20 metro areae are still showing negative annual rates of change in averag home prices with nine of the metro areas having recordannual declines.
” The top three cities for falling values were Phoenix, down 36 percent, Las down 31.2 percent, and San Francisco, down 30.1 The markets feeling the least pain include down 5.5 percent, Dallas, down 5.6 percent, and down 8 percent. New York remained the best marketfor long-termk appreciation. With an inde of 173.35, homes are down 11.8 percent from a year ago, but a $100,0090 investment in 2000 is nowworth $173,350.