30% of Portland Area homeowners under water

Home values in the Portland metro area have fallen 12 percent in the past year. Based on that drop, approximately one-third of Metro area homeowners owe more on their mortage than the appraised value of their home.

Zillow's fourth quarter real estate data shows 32 percent of homeowners in the metro area had negative equity, compared to 27 percent nationally.

Portland's drop in home values was double the national average, which was down 5.9 percent year to year.

According to the Zillow data, 26 percent of all homes sold in December were sold for a loss.

Declining prices have raised the affordability index.. This means homes on the market are MORE affordable than in the recent past.. so there is a silver lining for those who are looking for great bargains!

Milwaukie, Clackamas area Homes