According to CoreLogic, the California-based provider of property analytics, the total number of homes in the U.S. that are in the foreclosure process dropped from 1.2 million in January 2013 to 794,000 in January 2014, representing a 33.8 percent decrease in total distressed properties. The national foreclosure rate fell from 2.9 percent to 2.0.

The rate of foreclosures in Portland is down from 2.6 percent to 2.0 percent in that same period. Additionally, 3.9 percent of homes in metropolitan Portland are seriously delinquent and in danger of falling into foreclosure. Statewide, the foreclosure rate dropped from 2.9 percent a year ago to 2.4 percent currently. In Oregon, 4.3 percent of all mortgages are delinquent with 3.89 percent more than 90 days past due. That number was 5.17 percent last year.

Changes to the foreclosure process in August 2013, which expanded access to a foreclosure mediation process, likely influenced the 2,292 foreclosures that have taken place in Oregon during the past 12 months.

The numbers tell us that the nation is in a slow recovery, but that it is moving forward. Oregon is in slightly better shape than the rest of the nation and Portland’s numbers are slightly more favorable than the rest of the state. Mark Fleming, the chief economist at CoreLogic, states that we are recovering but are not “there yet”. He opines that the ratio of completed foreclosures to the mortgaged homes in the process is still too high, even though it is still declining.

In any event, clearly the forecast for Portland is slightly brighter than in the rest of the United States. This is likely in part to a slightly better than average unemployment rate. That remains at 6.4 percent compared to the national 6.7 percent. The city gained an estimated 5,600 jobs in March. That is double the monthly average for last year.