Oregon Foreclosure Activity Drops in November

Statewide filings down 32 percent from October

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 2,443 Oregon properties in November, a 32 percent decrease from October and 1 percent below the level reported for November 2010, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Oregon had the 13th highest foreclosure rate in the nation, reporting one in every 671 housing units with a foreclosure filing in November.

Deschutes County posts top foreclosure rate in the state for November
 One in every 397 housing units in Deschutes County had a foreclosure filing in November — 1.5 times the national average and 1.7 times the state average — the highest foreclosure rate of all Oregon counties for the month. Jackson County had the second highest rate of one in every 398 housing units with a foreclosure filing during the month — 1.5 times the national average and 1.7 times the state average. Marion County had the third highest rate of one in every 419 housing units with a foreclosure filing during the month — 1.4 times the national average and 1.6 times the state average.

Multnomah County has the highest foreclosure total in November
 Multnomah County tallied the highest level of foreclosure activity in the state, reporting 445 properties with foreclosure filings for the month. Washington County had the second highest total, reporting 323 properties with foreclosure filings. Marion was third, reporting 289 properties with foreclosure filings. Fourth highest was Clackamas County, recording 252 properties with foreclosure filings. Jackson County was fifth highest, tallying 223 properties with foreclosure filings for the month.

State a minor contributor to total foreclosure activity in November
 Oregon accounted for 1 percent of the 224,394 properties with foreclosure filings reported nationwide in November. Total U.S. activity decreased by 3 percent from October and was down over 14 percent from the level reported in November 2010. One in every 579 U.S. housing units received a foreclosure filing during the month.

“Despite a seasonal slowdown similar to what we’ve seen in each of the past four years, November’s numbers suggest a new set of incoming foreclosure waves, many of which may roll into the market as REOs or short sales sometime early next year,” said James Saccacio, co-founder of RealtyTrac. “Overall foreclosure activity is down 14 percent from a year ago, the smallest annual decrease over the past 12 months, and some bellwether states such as California, Ohio and Oregon actually posted year-over-year increases in foreclosure activity in November.

“Scheduled foreclosure auctions reached a nine-month high in November, corresponding to a recent surge in default notices that began back in August,” Saccacio continued. “Many of the new defaults that started the foreclosure process over the past few months are now being scheduled for public foreclosure auction.”

 

Oregon Top Foreclosure Rates By County – November 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

37,397

34,333

74,100

22,440

56,124

224,394

579

n/a

n/a

Oregon

12

0

1,495

0

936

2,443

671

0.86

n/a

 

 

 

 

 

 

 

 

 

 

Deschutes

0

0

76

0

122

198

397

1.46

1.69

Jackson

1

0

167

0

55

223

398

1.45

1.68

Marion

0

0

169

0

120

289

419

1.38

1.60

Polk

0

0

36

0

24

60

464

1.25

1.45

Linn

1

0

59

0

42

102

471

1.23

1.42

 Oregon Top Foreclosure Totals by County – November 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 11

% Chg Nov 10

 

 

 

 

 

 

 

 

 

 

United States

37,397

34,333

74,100

22,440

56,124

224,394

579

-2.72

-14.46

Oregon

12

0

1,495

0

936

2,443

671

-32.25

-1.33

 

 

 

 

 

 

 

 

 

 

Multnomah

4

0

283

0

158

445

712

-35.69

0.68

Washington

1

0

185

0

137

323

646

-27.09

13.73

Marion

0

0

169

0

120

289

419

15.60

106.43

Clackamas

4

0

146

0

102

252

611

-47.61

-1.95

Jackson

1

0

167

0

55

223

398

-23.63

4.21

 

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