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CENTRAL OREGON MARKET REPORT - DECEMBER 13, 2023

New Listing!

15093 E River Loop Drive

Bend (Three River South) - $939,000

Stunning custom home on 1.2 acres in Fall River Estates complete w/ 2 snowmobiles for your outdoor adventures! Miles of trails through national forest & river access for fishing. This extraordinary property is an entertainers delight w/ chef's kitchen, open concept great room, custom bar & covered outdoor oasis showcasing indoor/outdoor living for every season. Soaring ceilings, hardwood floors & custom cabinetry showcase high end finishes & expert craftsmanship throughout. Outdoor features include: custom greenhouse, outbuilding, landscaping, rock tiered terraces, composite decking, hot tub enclosure & new exterior paint.

 
 

With the inflation rate easing and the economy holding steady, policymakers voted unanimously this morning to keep rates steady and indicated that three cuts may be coming in 2024. I have a few ideas on what this might mean for the real estate market in the coming months.. First off, we will see some relief in affordability for Buyers. High rates and payments have been the biggest damper in the market over the past few months. With lower rates, we will see increased demand and hopefully it will bring the market back to life with more activity. For Sellers, this will help hold up prices for the time being and relieve some anxiety about their home depreciating. Nothing is set in stone, but this turn of events does signal a shift of direction for real estate in the near future and may cause people to rethink their plans to move. The better you can see into the future of our market, the better you can strategize on getting the best deal for you and your family. Let me know if you would like any advice!

   -Greg

 

State of the Market

 

Experts Project Home Prices Will Rise over the Next 5 Years

Here’s what the experts say will happen with home prices and why


 

What's new with Mortgage Rates?

This is a scenario for top tier borrowers with 20% down and great credit. These rates and better can also be seen for other borrowers by using seller credits!

 

Market Snapshot


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