Oregon needs to build 29,500 more homes each year, chief economist says
Oregon needs nearly 30,000 new homes annually to meet demand, yet construction remains below target. While much of the focus is on Portland and the Willamette Valley, Central Oregon faces its own unique challenges. People are still moving to the area at a quick pace and this has an affect on our ever-changing market. Right now, home inventory feels high and buyer demand low, but compared to what markets have done historically, this is not the case. We are still under supplied and the demand will eventually catch up, once the rates begin to slowly drop over time. Rather than a downturn, we’re adjusting to a more balanced market—one where strategic pricing, negotiation, and creativity are key. For buyers and sellers, the right real estate guidance can turn this shift into an opportunity, creating win-win deals that allow successful moves in a changing landscape. - Greg
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