Q1 Reports - 2023

March 29, 2023

Central Oregon Market Report | March 29, 2023

Central Oregon Market Report for March 20, 2023

By every significant metric, the Central Oregon housing market is heating up. In Deschutes County, buyer demand outpaced new listings, and inventory dropped by twelve, now at 529 single-family homes. Crook County inventory was flat at 116; in Jefferson County, the available homes for sale dropped two, now at ...

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March 22, 2023

Central Oregon Market Report | March 22, 2023

Central Oregon Market Report for March 22, 2023

In one week of the Fed bailing out banks with over $300B (that's a billion, with a "B"), half of the Quantitative Tightening over the last several months was wiped out. In a last-ditch effort to show he is committed to "fighting inflation," I expect Jerome Powell to announce ...

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March 15, 2023

Central Oregon Market Report | March 15, 2023

I would be remiss if I didn't mention the bank failures last week, with Silicon Valley Bank leading the way, followed by Signature Bank and Silvergate Bank. The ramifications of this are still unknown, especially since more banks will fail in the coming weeks. While most of the deposits ...

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March 8, 2023

Central Oregon Market Report | March 8, 2023

Central Oregon Market Report for March 8, 2023

Mortgage rates for 30-year fixed-rate loans yesterday were 7.03% for the national average, but there was an uptick in applications from the previous two weeks. However, applications compared with one year ago are down 42% nationally. In Crook and Jefferson County, available homes for sale have remained low but ...

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March 1, 2023

Central Oregon Market Report | March 1, 2023

Central Oregon Market Report for March 1, 2023

With two months of 2023 in the books, trends in Central Oregon real estate are becoming easier to identify. One trend, rising mortgage interest rates, remained stable since last week, with the national average for a 30-year fixed-rate mortgage at 6.85%. A big part of the recent rate spike ...

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Feb. 22, 2023

Central Oregon Market Report | February 22, 2023

Central Oregon Market Report for February 22, 2023

There is no getting around the significant rise in mortgage interest rates of late, with yesterday's 30-year average fixed-rate at 6.87%. As a result, many potential sellers and buyers are on the sidelines because of this one metric. However, it would be a mistake to assume the market ...

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Feb. 15, 2023

Central Oregon Market Report | February 15, 2023

Central Oregon Market Report for February 15, 2023.

Increased activity from buyers shows in the number of days it takes before a home secures a contract, and over the previous week, the median days for pending sales was twenty-two, the lowest since October. Pending sales were fifty-one, and the median price of the pending properties was $649,999 ...

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Feb. 8, 2023

Central Oregon Market Report | February 8, 2023

Central Oregon Market Report for February 8, 2023.

If you follow Central Oregon real estate, and this report in particular, you will see that different parts of the market have radically different market dynamics. If I were to report on Crook, Deschutes, Klamath, and Jefferson Counties as a monolithic market with combined statistics, it would smooth over the ...

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Feb. 1, 2023

Central Oregon Market Report | February 1, 2023

Central Oregon Market Report for February 1, 2023.

This week's inventory of single-family homes for sale in Deschutes County dropped to 521, down thirty-two from last week. While there were indications that active listings had reached a bottom, that proved incorrect. Predicting how low inventory will drop and when we will see the low point is impossible ...

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Jan. 25, 2023

Central Oregon Market Report | January 25, 2023

Central Oregon Market Report for January 25, 2023

Inventory of homes for sale in Deschutes County increased by one to 553 this week, indicating we may have witnessed the low point for 2023. While it is likely that the number will bounce around for the next several weeks, an inventory low in late January is more in line ...

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