Year-to-Date Foreclosure Filings Still Ahead of 2014
June 10, 2015
Eugene, Oregon—The signs indicate the Oregon housing market is healing as foreclosure filings dipped for the fourth consecutive month this year in the 23 counties monitored by Gorilla Capital. However, year-to-date, there were 54% more foreclosures filed through May than through the first five months of 2014.
Last month, 692 foreclosures were filed compared to April’s total of 764. Judicial foreclosures tallied 436 dropping 12% from previous month. Nonjudicial foreclosure filings also dropped from 266 in April to 256 in May; experiencing a 4% decrease.
“The sign pointing to a healing Oregon housing market is flashing caution,” said John Helmick, president of Gorilla Capital. “Foreclosure filings remain ahead of 2014 due Oregon’s slow foreclosure process. If history tells us anything, foreclosure filings will take part of the summer off, so expect even fewer filings in July and August with total foreclosure filings head back closer to 700 when school goes back in session this fall.”
Gorilla Capital continues to breathe life back into vacant homes and neighborhoods, also known as Zombies. One hundred percent of the houses purchased last month by Gorilla Capital were Zombies.
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