OR: Both Foreclosures, Pending Home Sales Soar

Foreclosure CrisisIf sending mixed signals is the goal, then the U.S. residential housing industry is doing a bang-up job. Thursday brings a fresh batch of conflicting home trends, with one report noting a jump in foreclosure activity in August while another took heart from a jump in pending sales in September.

It all comes on the heels of the S&P/Case-Shiller home price index, which two days earlier painted a generally dismal picture of the U.S. housing market and Portland in particular.

First, the foreclosure information. CoreLogic, a Santa Ana, Calif.-based real estate firm, said foreclosure rates jumped in August in Portland and Oregon, though both remain below the national average. The foreclosure rate for the Portland area rose to 2.61 percent, 22 percent higher than one year ago. Oregon’s foreclosure rate rose to 2.96 percent, almost 29 percent higher than one year ago.

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