Saturday, March 29, 2014

Real Estate is Booming In Bend Oregon

Bend Oregon Real Estate is booming again.  Home prices are rising and the rental market is extremely tight.  Inventory of homes for sale is low and there is a shortage of affordable rentals.  A recent report by KTVZ, Bend's local TV station, was titled: C.O. rental crunch: The squeeze is on.

Property owners gain while others face hardships.  They reported the vacancy factor is around one half of one percent.  The working class is having a hard time finding affordable housing again.
Meanwhile the construction industry is back to full production.  Tracy Thompson owner of Tyee Development said construction costs, both labor and materials, are up 10 to 12 percent over last year.

Bank Foreclosures are almost none existent this year.  One reason for the lack of foreclosures is that prices are starting to catch up with owners property who were previously underwater.

To search the Central Oregon Multiple Listing Service click here.  Free MLS Real Estate Search.