top of page

Central Oregon Market Report - November 23, 2022


 

Happy Thanksgiving to you and yours! I'm so very grateful for everyone in my circle and to have the opportunity to serve such a great community of people. I hope that you have a wonderful holiday with your family and friends :) As for your weekly real estate update... A brief drop in interest rates has reignited Buyer interest and those shopping are finding motivated Sellers that are looking to make a deal. During the holiday season, expect a portion of unmotivated Sellers to withdraw from the market and wait until next Spring. This means less inventory and competition for those holding strong and looking to Sell. In day to day conversations with the public, it sounds like many people are under the impression that home sales have come to an abrupt halt, but that is not true. The market has definitely cooled off, but homes are still selling at a steady pace. Attached below is a snap shot of the current market in Bend, with Active Listings (Green dots) and Pending listings (Orange dots) to give a visual of what the balance looks like. Thanks for tuning in and have a fun weekend! - Greg

 

Snapshot of Bend Active/Pending Inventory from MLS There is much more availabe inventory compared to previous years and it seems like we are tilting towards a Buyer's market, but demand still exists and well positioned homes are continuing to sell.


 

Deschutes County hiring consultant to study developing RV parks, campgrounds in 6 areas of county The county has set a Dec. 16 deadline for the proposals and expects to choose from among them in mid-January. Full Article


Mortgage Rates Will Come Down, It’s Just a Matter of Time As long as inflation is high, we’ll see higher mortgage rates. Over the past couple of weeks, we’ve seen indications that inflation may be cooling. Full Article

bottom of page