Thursday, July 30, 2009

Portland area foreclosures skyrocket in H1 2009

(I believe the second and third headers are switched on the graphic above. The second column is the % of houses in foreclosure, the third column is the rate or 1/xx houses)

In what should be no surprise to anybody here, Portland foreclosures are up 112% in H1 2009 according to the latest Realty Trac data which was released yesterday:

Portland now ranks 60th out of 203 metro areas with 1.31% or 1 out of 76 of all households in some form of foreclosure, a bit higher than the national average of 1.19%.

Las Vegas NV leads the nation with 1 out of every 13 homes in some form of foreclosure.
Seattle is faring better than Portland, ranking 76th with .94% of households in foreclosure.
Salem OR is doing slightly better than Portland, ranking 64th with 1.18% in foreclosure, while the Eugene area is doing much better with only .80% in foreclosure and a ranking of 94th.

While California still holds a number of top spots in the rankings, the rate of foreclosure has declined in most areas. I predict that Portland will climb in the rankings before we fall since we're late to this party and facing higher unemployment than most areas.

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1 comment:

Your Portland Financial Advisor said...

Thanks for putting this Portland housing info all on one blog, I've been looking for something like this but every other one is from a realtor and always "a great time to buy". There is a short sale on my street in Alameda and I'm sure it will be a foreclosure soon. And its interesting how the neighbors say "that dump will never sell at that price", two years ago it was "that dump sold fro how much?" Also do you notice a lot of for sale signs are in front of houses that sold just 18 months ago.