Oregon Foreclosures Soar
This article was published this past week in the Portland Business Journal and gives some statistics about foreclosures in Oregon.
“Oregon foreclosure rate soars 142% - The year ends on a sour note for the beleaguered residential market as two leading indicators show foreclosure rates soaring while home prices sink in Oregon and elsewhere. The bad news comes from RealtyTrac, an Irvine, California based firm that tracks foreclosure rates, and First American CoreLogic Inc, a Santa Ana, California based company that tracks home prices.The foreclosure data was nothing short of terrible. RealtyTrac said 2,965 foreclosure-related actions were taken against Oregon mortgage holders in November, an increase of 142% over the past year and more than 4.3% over October. ”
“According to RealtyTrac, there was some form of foreclosure action against one in every 488 households in the US in Novemebr. Oregon fared somewhat better with a foreclosure rate of one for every 535 households. Deschutes County had Oregon’s highest rate of foreclosure activity with 397 actions, or one for every 183 households.
Multnomah County had 883 actions, or one for every 347 households
Clackamas County had 367 actions, or one for every 406 households
Washington County had 423 actions, or one for every 475 households
First American CoreLogic said local home prices decreased 9.05% in October, its most recent data.”
Portland Business Journal, Page 6 - January 2, 2009
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