Short sales have surged in Oregon in the past year as an alternative to foreclosure.
Pre-foreclosure sales ? most of which are short sales ? now make up more than 10 percent of home sales statewide and in Portland, according to numbers released Wednesday by the foreclosure listings site RealtyTrac. A year ago, they made up only 7.5 percent of home sales.
And the increase comes in the year?s first quarter, when overall home sales in the Portland area increased by 12 percent compared with a year earlier.
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