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Fears of a double dip in home prices are beginning to gain traction as the average Portland home price hit its lowest level of the residential real estate downturn that started in late 2006.

According to the , home prices fell in all 20 of the country’s most populated cities from the end of September to the end of October. Across the 20 cities, home prices on average fell 1.3 percent in October, a larger drop than the 0.8 percent decrease in the month of September.

But while most cities reached their lowest average home price sometime in 2009 and have seen an overall increase since, six cities are still reaching new lows. Portland, Atlanta, Charlotte, N.C., Miami, Seattle and Tampa, Fla., all hit their lowest level of the most recent downturn at the end of October.

Portland had the seventh largest average home price decrease in October, falling 1.5 percent. From the end of October 2009 to the end of October this year, the average home price in Portland has dropped 5.2 percent. Only Atlanta (-6.2 percent), Chicago (-6.5 percent) and Detroit (-5.5 percent) had larger depreciation over the past year.

While prices fell from the month previous in all 20 cities, four cities have seen home price increases over the past year. Washington, D.C., had the largest appreciation over the past year, with home prices increasing 3.7 percent. Three cities in California – Los Angeles (3.3 percent), San Diego (3 percent) and San Francisco (2.2 percent), make up the other cities to have average home price increases over the past year.