Update: $3.5 Billion FHA SF Loan Summary by Oregon County and Loan Purpose: CY 2009 Through July.

Update: Added my notes from my State Housing Council presentation HERE.

I have prepared the attached PDF file HERE, with graphs and a table showing a breakout of FHA SF loan activity by Oregon county and loan purpose for CY 2009 through July.(I am scheduled to present this information during the public discussion portion of the Oregon Housing Council meeting on Friday).

While federal stimulus dollars may not have reached all areas in Oregon, this year FHA loans have; even sparsely populated rural counties like Lake and Sherman counties have seen $3 Million in FHA loans. FHA lending has also continued in troubled real estate markets like Deschutes and Jackson seeing $140 million and $148 million in FHA loans.

First Time Home Buyer Projection: 4,230+ or 605 Per Month.
While the charts don't show it HUD is reporting nationally that about 80% of purchase loans are going to first time home buyers. Applying that % to the 5,296 total Oregon purchase loans would mean 4,237 first time home buyers, or 605 per month for first 7 months of calendar year.

PDX Counties Getting About 1/2 of Loan Volume, With One Exception.
The PDF file also includes a breakout showing FHA SF loans within and outside the Portland metro area (aka "PDX"). Generally, about HALF of FHA SF loans are in PDX counties, with notable exception of HECM loans where PDX county share is only 35% of the total number of Oregon HECM loans.

Multnomah May Exceed $1 Billion
With $708 Million in FHA loans already, Multnomah County could become the first county in Oregon to EVER see more than $1 Billion in FHA loans in a calendar year.

Originally created and posted on the Oregon Housing Blog