Q3 Reports - 2023

Sept. 27, 2023

Central Oregon Market Report | September 27, 2023

Central Oregon Market Report for September 27, 2023

Active listings in all three counties of Central Oregon declined this week as the seasonal reduction of available homes begins in earnest. In Deschutes County this morning, there are 860 listings, down thirty-one from last week. With the national average 30-year fixed-rate mortgage at 7.5%, it would be easy ...

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Sept. 19, 2023

Central Oregon Market Report | September 20, 2023

Central Oregon Market Report for September 20, 2023

I recently predicted that rates would increase another 25 basis points in today's Fed meeting. However, the tea leaves point towards a hold rather than an increase. While that is excellent news for the mortgage markets, which have been relatively stable lately, there are no indications of a pivot ...

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Sept. 13, 2023

Central Oregon Market Report | September 13, 2023

Central Oregon Market Report for September 13, 2023

While the number of homes listed for sale in all three counties of Central Oregon ticked up slightly this week, prices are also up compared to this week in 2022. The average listing price of a single-family home in Deschutes County this morning is nearly $1.1M, compared to 739k ...

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Sept. 6, 2023

Central Oregon Market Report | September 6, 2023

Central Oregon Market Report for September 6, 2023

Much of the talk about inflation being under control is wishful thinking, and with an increase in CPI and a jump in consumer spending, I expect the Fed to raise rates 25 basis points in the September meeting later this month. I may be getting ahead of the curve on ...

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Aug. 30, 2023

Central Oregon Market Report | August 30, 2023

Central Oregon Market Report for August 30, 2023

On August 29, 2023, the national average for a fixed-rate 30-year mortgage was 6.03%. This morning, the same mortgage is 7.12%. This morning's rate is an improvement from earlier this week, but more than a point higher than last year is significant. However, the market's mood ...

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Aug. 23, 2023

Central Oregon Market Report | August 23, 2023

Central Oregon Market Report for August 23, 2023

At this time last year, the national average for a 30-year fixed-rate mortgage was 5.77%, on its way to a peak of 7.24% in mid-October. On this Wednesday last August, there were 928 single-family homes listed in Deschutes County, down slightly from peak 2022 at 972 on August ...

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Aug. 16, 2023

Central Oregon Market Report | August 16, 2023

Central Oregon Market Report for August 16, 2023

Pending sales in Central Oregon last week were robust despite the national average for a 30-year fixed-rate mortgage hitting 7.26% yesterday, the highest since the rate increases began in 2022. Inventory was flat in Deschutes County at 865 homes listed, up two in Crook County at 156, and up ...

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Aug. 9, 2023

Central Oregon Market Report | August 9, 2023

Central Oregon Market Report for August 9, 2023

On May 29, 2023, the national average for a fixed-rate 30-year mortgage was 6.9%. The high for this credit tightening cycle was late October at 7.13%. The rate yesterday was 7.04%. While rates have been stable recently, and the range above from the low to high only ...

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Aug. 2, 2023

Central Oregon Market Report | August 2, 2023

Central Oregon Market Report for August 2, 2023

One of the most challenging situations I deal with as a real estate agent is the question or statement that "I'm going to wait and see what the market does." Since I do not have a crystal ball, I can't say whether waiting could work out. Although being ...

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July 26, 2023

Central Oregon Market Report | July 26, 2023

Central Oregon Market Report for July 26, 2023

Every Wednesday morning, when compiling the data from the previous week, my preconceived notions of where the market is heading are challenged. While looking at homes and evaluating our inventory daily, I also read a lot of national news about data trends and speculation about the economy. Like most, the ...

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