The holiday season brought moderate success for retailers as people seem to be ready for some good news and are tired of the same old doom and gloom. For the housing market in Bend the news has remained the same for the past few months.
Going back to August of 2011 the sales numbers have been remarkably similar in all price categories with home under $325,000 leading the way for homes sold. With all the media coverage of a swollen distressed homes market our numbers representing the current inventory just do not support such coverage locally. The inventory numbers continue to sink with just over 500 homes offered in Bend, as recently as this past August that number exceeded 600.
By far the most active segment of the market remains homes priced $225,000 and under. This price range tends to help satisfy both the first time home buyer and the investor who is looking for affordable properties that will generate a positive return. With the occupancy rate for rental properties remaining low (around 4%), we will continue to see multiple offers on well priced homes under $325,000 as they tend to be the ones that pencil out the best for the investor who has the means to pick up these homes.
Currently 276 homes are listed over $325,000 and in this category there are some great values, they just take a little more time to discover but there is little competition for them.
As the world economic markets remain unstable look for that to affect our mortgage rates as investors look to the relatively safe Dollar and our bonds as a haven for their money. Their incoming funds may lead to a slow rise in mortgage interest rates. If rates raise look for more buyers to get off the fence and take advantage of the historic low rates currently offered. With the current low inventory of desirable homes expect the competition for those homes to increase.
To view the Market Trend Reports for Bend click here.
Brother Jon's - Breakfast - Bend Oregon
13 years ago
