Resent numbers for distressed properties were just released by multiple listing for the Portland Metro area graphed below. Although the numbers are shrinking and down from 35% or so from a year ago, the total sold  homes are still around 22% of the market for bank owned and short sales. The first quarter of 2013 on the mountain saw 28 sales with only three bank owned properties in the mix. Bank Owned Properties for sale on Mt. Hood.

Portland Metro distressed properties for first quarter