Posts with tag 'bend real estate trends'
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Bend Oregon Real Estate | 2022 Trends and 2023 Predictions
Bend Home Sales Significantly Down the End of 2022
When we study Bend real estate sales in 2022, we can state with confidence that the first six months were very different that the second half of the year. The first half of the year was a continuation of what was seen in 2021, with Bend single family home sales greatly impacted by lack of inventory and relatively low interest rates. It was an extremely strong sellers' market with multiple offers and contingency waivers a normal occurrence. However, the second half of the year was highly influenced by rising mortgage interest rates with these more than doubling in just a few months - something that had never happened before in the country's history. The high mortgage rates changed the buying power of potential Bend homebuyers, and the sales of
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Bend Premier Real Estate | December 2022 Newsletter
What's in the December 2022 Newsletter?
- Bend Real Estate Market in Transition
- Chasing Frozen Waterfalls
- 'Tis the Season for Eating
- A Place to Revisit Downtown
- Winter Home Selling Checklist
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Bend Oregon Real Estate | November 2022 Trends
Bend Real Estate Market in Transition
Ask any Bend Premier Real Estate broker about the local housing market and they will tell you that it is changing. After the initial few weeks of the Covid-19 pandemic, real estate sales across the nation accelerated beyond any seen before. Lack of inventory coupled with low interest rates led to multiple-offers, tremendous buyer demand and rising home prices; between March of 2020 and March of 2022, the average price of a Bend single family home on less than an acre increased 67%. This rate of increase was not sustainable. When
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If Only I had Bought my Bend Home Six Months Ago
High Interest Rates Impacting the Buying Power of Bend Homebuyers
Although the 30 year interest rate has moderated a bit from its high of 7.08% hit November 10, 2022, the rapid increase in mortgage interest rates we have seen since the beginning of 2022 has greatly impacted our buyer's purchasing power. Many buyers are regretting that they didn't buy several months ago before rates rose to the levels they are now. But is it really cheaper to buy a Bend home today than it was six months ago? Let's look at the true difference between these two markets and see what the numbers actually say.
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In April, we were still living under high demand for Bend homes and a $500,000 property hitting the market would often generate
9
Bend Premier Real Estate | November 2022 Newsletter
What's in the November 2022 Newsletter?
- There are Many Questions with Bend Home Sales
- Green Lakes in the Fall
- Home for the Holidays - Thanksgiving
- Bend's Next Best Taco?
- Homeownership Wins Over Time