When the new RealtyTrac data came out today for April, the standard story appeared again, in this case in the Business Journal HERE; Oregon foreclosures went up by 127% and Oregon's state ranking is 12th.is the gist of the story.
However, as the chart I put together HERE conclusively demonstrates, the 127% increase story lead misses the MUCH bigger story which is revealed when changes in different foreclosure phases are examined.
This more complete year to year comparison is likely beginning to show the impacts of the overall economic decline AND the lifting of various foreclosure moratoria that had been in place:
- Defaults DECREASED BY 89%
- Notice of Trustee Sale INCREASED by 656%
- REO INCREASED by 655%