Foreclosure activity dips in Portland Vancouver metro area in 3Q
Thursday, October 25, 2012
Foreclosure activity declined in the three months ending in September in the Portland-Vancouver metropolitan area, one of 131 metro areas with a population of 200,000 or more that experienced a year-over-year decline.
The Portland-Vancouver area came in 123rd for foreclosure activity out of 212 cities, according to California-based RealtyTrac. The company reported third -quarter foreclosures also decreased from the previous quarter in 134 of the metro areas tracked in the report.
Portland-Vancouver had a total of 2,422 households in some stage of foreclosure during the third quarter, a total that fell by 41 percent compared to the same period last year.
Decreasing foreclosures locally and across the country could be a sign that lenders are finally working through a two-year buildup of foreclosures, according to RealtyTrac spokesman Daren Blomquist. However, he said such activity in some markets remains a threat to home-price stability and growth.