Buy vs. Wait: Deciding on Real Estate in Bend in 2025

The real estate market in Bend, Oregon, remains a topic of active discussion for potential buyers and sellers in 2025. With evolving market conditions, rising interest rates, and shifting demand, the decision to buy now or wait hinges on your financial situation, lifestyle goals, and understanding of market trends.

Why Buy in 2025?

1. Stability in PricingWhile Bend’s home prices have soared in the past decade, recent trends suggest a stabilization in values. Buyers could benefit from entering the market now before any potential uptick in prices.

2. Low Inventory with OpportunitiesInventory levels are gradually rising, giving buyers more options. However, competition remains strong for well-priced homes, especially those with eco-friendly features or in sought-after school districts.

3. Lock in RatesInterest rates have been climbing, but they are still lower than historical highs. Locking in a rate now may save you money if rates increase further.

4. Lifestyle BenefitsBend offers a unique blend of outdoor adventure, small-town charm, and modern amenities. If you're ready to embrace this lifestyle, delaying your purchase could mean missing out on available homes that meet your needs.

Why Wait in 2025?

1. Uncertainty in the EconomyBroader economic factors, including inflation and a possible slowdown in job growth, could affect home prices. Waiting may give you more clarity on where the market is headed.

2. Affordability ChallengesHome prices in Bend are still high compared to median incomes. If you're concerned about affordability, waiting could allow you to save for a larger down payment or improve your financial situation.

3. Potential for Price AdjustmentsIf inventory continues to rise and demand softens, prices could decrease slightly. Waiting could allow you to purchase at a lower price point.

4. Limited Flexibility with High RatesHigher interest rates may affect your borrowing capacity. By waiting, you might find better financial products or see rates stabilize or drop.

Considerations Before You Decide

• Your Financial ReadinessEvaluate your current savings, income stability, and debt levels. Are you financially prepared for a down payment, closing costs, and potential repairs?

• Market TrendsKeep a close eye on Bend’s real estate data. Are homes selling quickly? Are there price reductions? Work with a local expert to get an accurate view.

• Personal GoalsIs buying a home tied to other milestones, like starting a family, relocating, or investing in your future? Waiting too long may delay achieving those goals.

There’s no one-size-fits-all answer to the “Buy vs. Wait” question in Bend. Each buyer’s situation is unique, and the right decision depends on balancing market conditions with personal needs.

Whether you decide to dive into the market now or hold off, working with a knowledgeable local real estate agent can help you navigate the process and secure the best outcome.

FAQs

1. Are Bend home prices expected to increase or decrease in 2025?Prices are stabilizing after years of rapid growth. While dramatic decreases are unlikely due to strong demand, slight adjustments might occur if inventory rises significantly.

2. How do interest rates affect the decision to buy now?Higher interest rates mean higher monthly payments. Locking in current rates could save you money if rates increase further. However, waiting may offer opportunities if rates drop.

3. Is it a good time for first-time homebuyers in Bend?It depends on your financial readiness. If you have a solid down payment and can afford current interest rates, it’s a good time. Consider smaller homes or condos, which are more affordable for first-time buyers.

4. Should I wait for a market crash?A crash is unlikely in Bend due to strong demand and limited housing supply. Waiting for a dramatic price drop may not yield significant savings.

5. What are the benefits of buying in Bend now?You can secure a home before prices or interest rates rise. Buying now also lets you start building equity and enjoying Bend's lifestyle.

6. Are there any specific property types to focus on?Eco-friendly homes, properties with ADUs, and homes in top-rated school districts are highly sought after. These options may appreciate in value more quickly.

7. What are the risks of waiting?You may face higher interest rates or increased competition in the future. Additionally, the perfect property for your needs might not be available later.

8. What’s the best way to prepare for buying a home in Bend?Get pre-approved for a mortgage, work with a local real estate agent, and save for a down payment. Research neighborhoods to find the best fit for your lifestyle and budget.

9. How can I stay updated on Bend’s real estate market?Work with a knowledgeable real estate agent, monitor local market reports, and attend open houses to get a feel for current trends.

10. Is it a good year to sell a home in Bend?Yes, if you price your home competitively and highlight its unique features. The market is stable, and well-maintained properties are still attracting buyers.