The National Association of Realtors has published it’s 2010 first quarter report on the Portland real estate market.  The report, like Case Shiller, uses the seven county Portland MSA.

The report does an excellent job of comparing the Portland market to the national market and has some good foreclosure statistics.  The three year equity positions for Portland and the U.S. are pretty close but there is a fairly large disparity in the seven year position.  Portland’s recent depreciation lags behind the national market.

Portland’s foreclosure rate is lower than the national but the report warns that an increase in recent delinquencies may predict an increase in foreclosures for the local market in the near future.

If you are having a hard time with your mortgage payments, it may be worth investigating the MakingHomeAffordable.gov website about possible loan modification.  There is also a Home Affordable Refinance program which may be an option if you do not qualify for loan modification.