Feb 13 2008
Bend Home Sales Are Picking Up
In the last 2 weeks we sold 4 houses with a total of 6 offers. What’s going on with Bend’s real estate market? There is a foot of snow on the ground, and in some places even more? I think that the interest rate reduction has really started to nudge people to get off the fence and make a decision. The fed has said that they will not keep rates low for long due to the threat of inflation. Therefore, the window of opportunity to buy with these low interest rates may be small.
If you look around, now is the best time in a long time to buy a house. There is standing inventory, and most people selling houses right now have to sell. They are motivated sellers. However, permit activity has dropped to almost nothing. It is down 90% from its peak, meaning that new home inventory will continually shrink over the next few months. This creates low inventory, and prices will assume their long-term price appreciation. So now is the time get the home of your dreams.
Contact us if you would like more information on buying a new home in Bend and Central Oregon.
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