Are Foreclosures Up or Down in Oregon?

Oregon Foreclosure RateIt’s a tough time to profess expertise when it comes to home values. Everyday seems to deliver a fresh batch of statistics, often conflicting with the prior day’s news. Home prices — or the index tracking them — rises one day. The next, a new set of press releases proclaims they’re still down.

Today is one of those days. Two foreclosure reports from two respected real estate data firms point in nearly opposite directions.

First, CoreLogic of Santa Ana, Calif. said lenders completed 69,000 foreclosures in January, a drop of nearly 19 percent from the prior year. There were 6,151 completed foreclosures in the Portland area for the year that ended in January, according to Corelogic. CoreLogic regards the trend line as generally positive and muses that the mortgage industry is getting on its feet. “We are hopeful that these recent improvements are early signs of revitalization in the mortgage market,” Anand Nallathambi, CEO, said in a press release.

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