Jan 29 2008

Rolling in foreclosures

Published by at 12:19 pm under Idaho,Oregon,Washington

foreclosure map

foreclosure map/RealtyTrac

The real estate market has been taken its long-predicted (here, among other places) hit, and foreclosures are rising fast. You see the headlines all over; but how do various areas compare?

A national firm, RealtyTrac (which is in the business of sales of foreclosed and distressed property), has answers including a national by-county map visible here. The areas where foreclosure rates are lowest are some of the more rural and least growth-prone around the Northwest, notably much of eastern Oregon and central Idaho

Remarkably, the three Northwest states are bunched together among the nation’s 50: Idaho ranks 20th, Washington 21st, Oregon 22nd.

Could be, though, that the trend line may push them apart. The one-year increase rates in foreclosures were quite different: Oregon 12.2% higher, Washington 27.9%, and Idaho 140.5% (though there is a note that rate might be somewhat inflated because of measurement changes).

See also a Seattle Times piece on this, noting the state’s high increase was in Pierce County.

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