Portland foreclosures hanging over market

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Monday, April 30, 2012
One in eight Portland-area foreclosed homes aren't listed for sale, a move by banks to keep home values up.

The vast majority of repossessed Portland-area homes aren't up for sale. Instead, more than 80 percent of them are off the market, many vacant and developing maintenance problems that might ultimately take a toll on their resale value if and when they do sell. 
This at a time when the Portland market is in an inventory crisis. Sellers don't want to put their home on the market at what could prove to be the low point for prices. Brokers say their supply is drying up.

Read more at OregonLive.com.

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