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Portland region homes continued to sell at their slowest pace in at least 15 years during February as nearly one out of five buyers in the resale market chose a foreclosure. The overall median sale price, which has held up better than in most housing markets in the West, inched up from January but still fell short of the year-ago level for the 11th consecutive month, a real estate information service reported.

Foreclosure resales - homes resold that had been foreclosed on in the prior 12 months - accounted for about 18 percent of all Portland area resales in February. That's well below levels seen in some other major Western markets, where foreclosures account for half or more of all resale activity.

A total of 1,566 new and resale houses and condos closed escrow during February in the Portland-Vancouver-Beaverton metro area (see included MSA counties below). That sales total rose 13 percent from January but dropped 41.2 percent below a year earlier, according to MDA DataQuick. The San Diego firm tracks real estate trends nationally via public property records.

The number of homes sold in February was the lowest for that month since at least 1994, when DataQuick's complete (all home types) Portland region sales statistics begin. The February total was the second-lowest for any month on record, behind the January 2009 sales tally, and marked the 36th consecutive month in which total sales have fallen on a year-over-year basis. Total Portland region sales have been the lowest on record for that particular month for the last 10 consecutive months.