On February 27, 2026, the national average for a 30-year fixed-rate conventional mortgage was 5.99%, compared with 6.75% today. The peak over the last several weeks was July 23, 2026, at 6.85%. The range of movement since late July has been narrow, but the trend is up, not down. From today’s vantage point, there is no indication rates will decrease anytime soon.
Typically in the Central Oregon housing market, inventory peaks sometime between late July and mid-August, then declines steadily week to week towards winter. While the peaks in 2026 were just short of 2025 levels, this year has had a few false peaks, with inventory up this week and pending sales down. Activity remains reasonably stable, but the weekly variation shows a more balanced market than in several years, with a very small bias towards sellers. However, Deschutes, Crook, and Jefferson Counties all have increased year-to-date sales, and higher average sale prices than in 2025.
Inventory in Deschutes County is up by 22 this week, now at 1,452. This supply level is only 14 fewer than the high point reached in mid-July. Seventy-one pending sales are down 9 from last week, with 43 of those listings reducing the asking price by an average of 5.78% before securing a contract. There were 66 closed transactions this week, down by 5 from last week, with half of those listings reducing the asking price by an average of 6.14% before securing a buyer. The sold-to-original-list-price ratio was 95.19%.
Crook County’s inventory is up 4 this week to 268, matching the 2026 high reached in late July. Seven transactions are pending this week, with 4 of those listings reducing the asking price by an average of 9.21% before securing a contract. Four closed transactions this week are half of last week’s total, with 2 of those listings reducing the asking price by an average of 11.08% before securing a buyer, and a sold-to-original-list-price ratio of 95.12%.
In Jefferson County, supply is up by 5 from last week to 154, just 4 fewer than the 2026 peak reached in mid-July. Three pending sales this week are 2 fewer than last week, and all 3 listings reduced the asking price by an average of 9% before securing a contract. Seven transactions closed this week, up 1 from last week, and 2 reduced the asking price by an average of 3.29% before securing a buyer. The sold-to-original-list-price ratio was 98.46%.
The market is more nuanced this fall than any of the last several years. With such extreme diversity between locations and homes in Central Oregon, exact year-over-year comparisons are always tricky. But with several months of data to draw from, many of those nuances smooth out. Despite the weekly variation, 2026 continues to outpace last year in volume and average sale prices, albeit by a small margin. Because our market is seasonal due to inclement winter weather, fall is always a great opportunity for buyers. That doesn’t mean sellers aren’t maintaining gains reached in 2022, but shooting for the moon with high listing prices is a surefire way to extend marketing time and discourage buyers as we approach fall.
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