On the last tuesday of the month the Case Shiller index is released. This is the most widely used index on the health and direction of the national real estate market.
See the latest report Here.
What this shows is the resale of the same homes and whether it went up or down in value. The big problem is that right now most resales nationally are distressed properties which are as a matter of fact worth less than well maintained homes – in ANY market. The most important factor is never mentioned and that is this statistic: Percent change since the year 2000. Owning a home is a long term slow growth investment and the average home in Portland is worth 70% more today than it was in 2000. By comparison many stock market indices are worth less than they were in 2000.
This article from the SF Chronicle highlights the difference in value and price of REO or Bank owned properties which are generally on the lower end of pricing.