Portland home prices surged again in June, jumping 12.6 percent from 12 months previous, according to the S&P CoreLogic Case-Shiller home price index released last week.

That was the highest increase in the nation, exceeding gains in Seattle (11 percent) and Denver (9.2 percent). The Pacific Northwest has the hottest markets in the nation, the index said.

With Tuesday’s release from Case-Shiller, two different sources are telling different tales about the state of Portland’s single-family real estate market.

The June data from the national Case-Shiller index comes in contrast to more recent July data from RMLS, a local Portland listing service. According to RMLS, the median sale price of a Portland-area home fell 1.9 percent in July to $355,000, down from $362,000 in June.

Closed sales in July fell 12.1 percent from June, and 19.6 percent from 12 months previous, according to RMLS.

It remains to be seen whether next month’s Case-Shiller release reflecting July data shows the same cooling trend.

The cooling may be the result of seasonal trends, said Edward Petrossian, principal broker at RE/MAX Equity Group‘s West Hills office.

“In actuality, it’s a pretty healthy market right now,” he said. “The affordable price range is doing very well. It’s more location-oriented. On the high end, you see a lot of movement.”

The midrange market, which Petrossian put at $500,000 to $750,000, is “taking a little more time, but that all depends on location and the type of home being offered.”

More homes have come on the market, easing an extremely low inventory seen earlier this year.

“Buyers have a hard time,” Petrossian said, “but it’s getting a little easier.”

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