California-based Clear Capital monitors the residential real estate market. It found that nationwide home prices dropped 5 percent in April compared to one year ago and are down 11.5 percent over the prior nine months, a rate of decline not seen since 2008.
Clear Capital's Home Data Index for Portland dropped 10.1 percent compared to a year ago while Seattle prices dropped 12 percent in the same period.
In the first three months of 2011, nearly half of all residential real estate sales in the Tampa-St. Petersburg-Clearwater metro area involved properties that failed to sell at a foreclosure auction, according to Clear Capital, a California-based research firm.
Clear Capital also said distressed properties, including foreclosures, represented 34.5 percent of the market in April.
Locally, distressed properties represented 31.1 percent of the Portland market and 27.4 percent of the Seattle market, it said.
"The latest data through April shows a continued increase in the proportion of distressed sales that are taking hold in markets nationwide," said Alex Villacorta, director of research and analytics. "With more than one-third of national home sales being (distressed), market prices are being weighed down as many markets have not regained enough footing to withstand the strain."
Clear Data said the nation's five best real estate markets are Charlotte, N.C., Washington D.C., Tucson, Ariz., Dallas and Philadelphia.
The five worst real estate markets were Detroit, Hartford, Conn., Milwaukee, Wisc., Cleveland and Chicago.
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