Despite record decline for home prices, some say market stabilizing - Portland Business Journal:

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Portland home prices were down 16 percentt in April from ayear ago. Charlotte, Chicago, Cleveland and New York also had recor annual declinesin April. Seattle was down 16.8 percent. however, the data released Tuesday showed a slighr improvement for home prices in the 20 citiee tracked bythe index.Th price index declined 18.1 percenft in April compared to a year ago. That’ss a slight improvement from March, when the indexs was down 18.7 percent from the year Thirteen of the 20 cities in the indez had improvement in theirannual returns. Nineteen metro areas reported improvedmonthly prices.
“Whils one month’s data cannot determinde if a turnaroundhas begun; it seems that some stabilizationb may be appearing in some of the regions,” said Davis M. Blitzer, chairman of the Indecx Committee. The worst-performing areass for the past yearwere Phoenix, down 35.3 Las Vegas, down 32.2 percent and San Francisco, down 28.8 Denver, Dallas and Boston had the best annual return with declines of 4.9 percent, 5 percenty and 7.7 percent respectively. The index is based on a valude of 100 inJanuary 2000. Just two cities in the index have home values below their 2000 Clevelandand Detroit.
Over the long New York has enjoyed thebest long-terkm residential appreciation, followed by Washington D.C. In Portland, a propertuy worth $100,000 in 2000 now is worth