Real estate experts say the housing market, especially in Portland, is still suffering from the ripple effect of the 2008 housing crisis. However, they say month-to-month foreclosure rates can be deceiving, and Lane County is on the path to a healthier housing economy.
“We saw a 20-percent decline in the number of houses that were sold at foreclosure auction. (In) 2012 we saw another 20-percent decline in the number of houses sold in foreclosure auctions, and this year we’re going to see that rate again decrease,” said John Helmick, Gorilla Capital CEO.
Lane County’s home foreclosure rate is over the state’s average, but local realtors think the market is starting to recover.