Sunday, April 5, 2009

Foreclosure accounted for about 18 percent of all Portland area resales in February

From the Street.com:

Portland region homes continued to sell at their slowest pace in at least 15 years during February as nearly one out of five buyers in the resale market chose a foreclosure. The overall median sale price, which has held up better than in most housing markets in the West, inched up from January but still fell short of the year-ago level for the 11th consecutive month, a real estate information service reported.

Foreclosure resales - homes resold that had been foreclosed on in the prior 12 months - accounted for about 18 percent of all Portland area resales in February. That's well below levels seen in some other major Western markets , where foreclosures account for half or more of all resale activity.


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