Distressed Sales Information 1st & 2nd Quarters

Portland Real Estate Market
Distressed property sales in the Portland metro area dipped in the second quarter of 2014 as the spring buying season heated up. Short sales dipped from being 6.1% of total sales to being 4.1% of total sales for the first and second quarters of 2014 respectively. Bank owned foreclosures (REO) properties experienced a less abrupt drop from 4.9% down to 4.7% when the first quarter of 2014 is compared to the second quarter of this year. Inventory of available homes offered on the market throughout Portland remains quite low and this low inventory may be fueling the drop in short sales as rising prices move more sales into the non-distressed category. Also, national politics may be playing a role as congress has failed to reach an agreement extending the Mortgage…
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