Is Bend Rising From the Ashes?

Two recent publications have the City of Bend rising to the top of their lists.

The Oregon Business Journal reported in an article titled “The Bend Housing Bounce” highlighted the Northwest Crossings neighborhood. Northwest Crossings has weathered the downturn better than most by providing well appointed new homes in a vibrant mixed use neighborhood. Northwest Crossings currently accounts for 21% of new housing permits issued for Bend. Joining Northwest Crossings are Yelas Constructions homes at Marken Heights and various builders in the Shevlin Pines development out toward Shevlin Park.

The Business Insider has an article “The 15 Best Housing Markets For The Next Five Years”

This article highlights 15 markets which are poised for growth over the next five years, listing Bend in the number one position. Their reasoning covers the dramatic decrease in home prices from the first quarter of 2007 and a strong median family income. It is exactly that drop in prices and a strong rental market that has brought buyers back to our market. Many see this as opportunity buy well, similar to Bend in the mid eighties. This rating comes with a word of caution in a side note about Bend’s continued high unemployment rate. The article predicts an annualized growth rate from 2011- 2016 of +11.9%.

Central Oregon offers a great lifestyle in a variety of styles, the things that made us popular before and during the boom years are still here waiting for you today. To get more information about what we have to offer feel free to contact me.

Ho Ho Ho Merry Christmas, Here are the Bend Market Trend Reports for November 2011

A friend queried me about the trend he was seeing in the Bratton report; he was concerned that the drop in the median price of Bend homes might be an ominous sign. How if we are bouncing along the bottom could the median values drop by so much? When you pull back and look at the bigger picture the market for homes above $225,000 has remained very soft while everything below that has been moving tremendously well.


This has skewered the numbers and perceptions of those who do not dig deeper for the cause. Are there a good number of homes available for sale above $225,000? Of course, are they selling? Not so much. Right now many people who might move up or those who want to sell feel the economic conditions are too unsettled for them to take the chance of making a move.

This trend also shows that those who are not intimidated by the current economic conditions are buying up the well valued homes. The greater concentration of these homes has been in the $225,000 and under price range. Many feel that in this price range should things fall a bit further that their losses would be minimal since the fall is incrementally smaller. An even greater pull is that many feel they will not see these same purchasing opportunities come our way again for some time.

As we move through the coming year the combination of a pent up need for people to move forward in their lives and economic conditions that should continue to stabilize will lead to a steady improvement in the median value of homes as the higher valued homes begin to sell once again.

To see the market trends for Bend follow the link
Bend Market Trends Report.