Oregon Foreclosure Activity Fell in Second Quarter

Activity level fell 12 percent from Q1

Foreclosure filings increase 9 percent mid-year; up 22 percent in June

 

Oregon reported 10,626 properties with foreclosure filings for the second quarter of 2010, a 12 percent drop from the first quarter, but still 10 percent above the level reported in the second quarter of 2009. 

 

Activity level in Oregon rose during the first half of 2010 as well as for the month of June. For the first six months of the year, Oregon reported 21,538 properties with foreclosure filings, a 9 percent rise in activity from the second half of 2009 and 13 percent above the level reported mid-year 2009. In June the state tallied 3,843 properties with foreclosure filings, an increase of 22 percent from the previous month and up 23 percent from June 2009.

 

“Foreclosure activity in Oregon fell during the second quarter this year, though it remained well above the level reported for the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state actually saw a hike in foreclosure filings over the first half of the year as compared to the second half of 2009, as its unemployment rate remained more than a full point above the national average.”

 

One in every 153 Oregon housing units received a foreclosure filing during the quarter, giving the state the 13th highest foreclosure rate in the nation.

 

Deschutes County posts state’s top foreclosure rate for the quarter

Deschutes County posted the highest county foreclosure rate in Oregon during the second quarter, with one in every 58 housing units receiving a foreclosure filing — 2.6 times the state average. Jackson County had the second highest foreclosure rate, with one in every 100 housing units receiving a foreclosure filing — 1.5 times the state average. Clackamas County had the third highest foreclosure rate, with one in every 118 housing units receiving a foreclosure filing.

 

Multnomah County leads state in total foreclosures for the second quarter

Multnomah County led the state in total foreclosures, reporting 1,886 properties with foreclosure filings for the quarter. Deschutes County had the second highest total, reporting 1,332 properties with foreclosure filings. Reporting 1,312 properties with foreclosure filings for the quarter, Washington County came in third. Clackamas County was fourth, reporting 1,303 properties with foreclosure filings. Fifth highest total was Jackson County, where 881 properties with foreclosure filings were reported for the quarter.

 

State a moderate contributor to nation’s quarterly total

Foreclosure activity in Oregon represented 1 percent of the 895,521 properties with foreclosure filings reported nationwide for the second quarter of 2010. Total U.S. activity fell by almost 4 percent from the previous quarter and was virtually unchanged from the second quarter 2009. One in every 144 U.S. housing units received a foreclosure filing during the quarter.

 

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 – Q2 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

102,797

169,209

251,435

102,118

269,962

895,521

144

n/a

n/a

Oregon

95

15

6,456

0

4,060

10,626

153

0.94

n/a

 

 

 

 

 

 

 

 

 

 

Deschutes

20

1

764

0

547

1,332

58

2.46

2.62

Jackson

4

2

524

0

351

881

100

1.44

1.53

Clackamas

3

0

678

0

622

1,303

118

1.23

1.30

Josephine

4

1

156

0

126

287

130

1.11

1.18

Columbia

1

0

86

0

61

148

134

1.07

1.14

 

 

Oregon Top Foreclosure Totals by County – Q2 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q1 2010

% Chg Q2 2009

 

 

 

 

 

 

 

 

 

 

United States

102,797

169,209

251,435

102,118

269,962

895,521

144

-3.94

0.64

Oregon

95

15

6,456

0

4,060

10,626

153

-12.01

10.29

 

 

 

 

 

 

 

 

 

 

Multnomah

16

4

1,262

0

604

1,886

167

-11.33

11.80

Deschutes

20

1

764

0

547

1,332

58

-12.60

7.94

Washington

18

1

834

0

459

1,312

158

-14.02

9.79

Clackamas

3

0

678

0

622

1,303

118

7.42

13.90

Jackson

4

2

524

0

351

881

100

-5.47

5.38

 

 

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