Monday, August 26, 2013

Bend Real Estate Prices Jump

Home prices in Bend Oregon jumped last year.  A report released by the Federal Housing Finance Agency ranked the Bend-Redmond Metropolitan Statistical Area fourth in the nation for yearly home price increases.
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This report covers all of Deschutes County and reported the median price of homes sold increased 16.73 percent in the second quarter of the year compared with the second quarter of 2012.  The Federal Housing Finance Agency's quarterly house price index track median home price gains in each of the nearly 400 metropolitan areas in the United States.

Only three areas in the country had a higher year over year appre3ciation rate, Stockton California, Phoenix Arizona and Las Vegas Nevada.

Prices are still much lower than they were at the peak of the real estate bubble in 2006.  These reports are always in the past and don't necessarily predict the future.  I do see a bright future in the Bend real estate market but the activity from potential buyers has decrease about 25% in the last few months. 

My website averaged around 200 hits per day a couple of months ago and is now averaging around 150 hits.  That's a decrease in 25% in the interest from buyers nation wide.  Now is a good time to buy a home in Bend because our prices are still good and interest rates are near all time lows.  I look for prices to continue to increase as sales in other areas bring buyers to Central Oregon.