Number of distressed properties in Portland dropping in 2015

distressed properties in Portland metro area

 

The number of distressed properties continues to drop, especially short sales.

According to RMLS Portland metro when comparing percentage share of the market, third quarter to second quarter 2015:
• When comparing third quarter to second quarter 2015, distressed sales as a percentage of new listings decreased by 0.3% (5.4 v. 5.7%).
• In a comparison of third quarter to second quarter 2015, distressed sales as a percentage of closed sales decreased by 0.3% (6.4 v. 6.7%).
• Short sales comprised 1.4% of new listings and 1.7% of sales in the third quarter, down 0.2% and 0.5% from the second quarter of 2015, respectively.
• Bank owned/REO properties comprised 4.0% of new listings and 4.7% of sales in the third quarter, down 0.1% and up 0.2% from the second quarter of 2015, respectively.

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