Oregonians Lost an Average of $42,000 Each to Real Estate Scams, FBI Data Shows
A new study reveals that Oregonians who fell prey to real estate scammers lost an average of $42,095 per victim in 2023.
Oregon Residents Lost $5.6 Million To Real Estate Fraudsters In 2023
Using data from the FBI’s Internet Crime Complaint Center (IC3) and Google search volume, the researchers at cash home buyers, SellMyHouse, determined which US states lose the most to real estate fraud.
Alabama residents suffered the highest average financial losses from real estate fraud in 2023, with victims losing an average of $69,441 per scam. The state had 77 cases in 2023, resulting in a total loss of $5.3 million.
Oregon had the fourth-highest average losses in the nation. Scammers netted $5,682,876.00 from 135 victims who lost an average of $42,095 each. This is over double, for example, in Georgia, where 231 residents lost $4,024,568.00 —an average of $17,422.37 per victim — in 2023.
The 10 US states with the highest average loss to real estate fraud in 2023 (ranked) were:
| State | Total Loss to Real Estate Fraud (2023) | Number of Real Estate Fraud Victims | Average Loss per Victim | |
|---|---|---|---|---|
| 1 | Alabama | $5,346,973.00 | 77 | $69,441.21 |
| 2 | North Dakota | $402,505.00 | 6 | $67,084.17 |
| 3 | South Carolina | $5,755,201.00 | 130 | $44,270.78 |
| 4 | Oregon | $5,682,876.00 | 135 | $42,095.38 |
| 5 | New Mexico | $1,998,926.00 | 55 | $36,344.11 |
| 6 | Arizona | $9,472,364.00 | 318 | $29,787.31 |
| 7 | Washington | $7,668,752.00 | 277 | $27,685.03 |
| 8 | Oklahoma | $1,501,530.00 | 57 | $26,342.63 |
| 9 | New Jersey | $5,226,872.00 | 233 | $22,432.93 |
| 10 | Georgia | $4,024,568.00 | 231 | $17,422.37 |
In addition, the researchers extracted Google data to see which states residents most frequently searched for information on real estate fraud. Delaware ranked #1, averaging 11.71 searches per 100,000 residents per month.
In Wyoming, despite relatively low financial losses, residents were especially active in searching for information on real estate fraud, ranking #2 nationwide at 10.99 searches per 100,000 residents. Wyoming residents may just be highly vigilant about protecting themselves from scams.
Derek Fuller, Co-Owner of SellMyHouse Fast Montgomery, noted that different types of fraud occur in different areas, and expensive home prices aren’t the only factor driving fraud’s severity.
The property values and demographics in different states make certain groups, such as the elderly, more vulnerable to these scams.
Fuller recommended that anyone buying or selling property should double-check money transfer instructions directly with trusted contacts at their title company or real estate agency to avoid falling victim to fraud.