Oregon Foreclosure Activity Falls in April

Statewide foreclosure filings down 7 percent from March and 1 percent from April 2009

 

Monthly foreclosure activity in Oregon fell in April, down 7 percent from the previous month to 3,813 properties with foreclosure filings. This latest state total also represents a 1 percent year-over-year decrease in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity in Oregon declined modestly in April to a level slightly below what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “While Oregon’s unemployment rate has remained high, consistently hovering around 11 percent for several months, that relative stability may have stalled the state’s foreclosure activity at least temporarily.”

 

The state had the 13th highest state foreclosure rate in the nation with one in 427 Oregon housing units receiving a foreclosure filing during the month.

 

Deschutes County posts top foreclosure rate for April

Deschutes County posted the highest county foreclosure rate in Oregon for April, with one in every 195 housing units receiving a foreclosure filing — 2.2 times the state average. Clackamas County came in second, with one in every 256 housing units receiving a foreclosure filing — 1.7 times the state average. Jackson County was third, with one in every 311 housing units receiving a foreclosure filing — 1.4 times the state average.

 

Multnomah County led the state in total foreclosures for April

Multnomah County led the way, reporting 653 properties with foreclosure filings for the month. Clackamas County was second highest, documenting 599 properties with foreclosure filings. Reporting 462 properties with foreclosure filings for the month, Washington County ranked third highest. Deschutes County was fourth, reporting 400 properties with foreclosure filings. A total of 284 properties with foreclosure filings were reported in Jackson County, the fifth highest county total in April.

 

State a modest contributor to nation’s month foreclosure total

Oregon accounted for 1 percent of the 333,837 properties with foreclosure filings reported nationwide in April. Total U.S. activity declined more than 9 percent from the previous month and was 2 percent below the level reported in April 2009. One in every 387 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

Oregon Top Foreclosure Rates By County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

n/a

n/a

Oregon

35

15

2,376

0

1,387

3,813

427

0.91

n/a

 

 

 

 

 

 

 

 

 

 

Deschutes

4

1

250

0

145

400

195

1.99

2.19

Clackamas

1

0

286

0

312

599

256

1.51

1.67

Jackson

0

2

179

0

103

284

311

1.24

1.37

Josephine

1

1

64

0

43

109

342

1.13

1.25

Columbia

1

0

30

0

19

50

397

0.97

1.08

 

 

Oregon Top Foreclosure Totals by County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 10

% Chg Apr 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

Oregon

35

15

2,376

0

1,387

3,813

427

-6.84

-0.63

 

 

 

 

 

 

 

 

 

 

Multnomah

5

4

469

0

175

653

481

-16.92

-1.06

Clackamas

1

0

286

0

312

599

256

47.54

30.22

Washington

11

1

314

0

136

462

449

-15.07

-6.67

Deschutes

4

1

250

0

145

400

195

-19.52

18.34

Jackson

0

2

179

0

103

284

311

-14.71

-17.68

 

 

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