The Bend Bulletin reported a .3% rise in housing prices in the Pacific states from April to May of this year. These states include Oregon, Alaska, California, Hawaii and Washington. They also reported prices were down 14.5% from a year ago. This report was based on a federal House Price Index released Tuesday.
The report did not say how many sales this was based on. I'm sure the number of sales was down substantially from 2007. As previously discussed in this blog real estate statistics can be a tricky thing. Bend's prices were up in May and June but the statistics were skewed because of the low number of sales and the increase in the sales of more expensive homes.
Take it from a man on the front lines. The Bend Oregon real estate market continues to decline with prices falling. There are 155 short sales on the market along with several bank repos. There are more and more homes coming on the market where the seller has to sell. Homes are selling if they are priced right.
I predict prices will continue to fall until next spring. How much no one knows. There are some good opportunities out there and a nice selection of homes to choose from. It is a good time to buy.
Jim Johnson has lived in Bend Oregon since 1981. Call 541-389-4511 or see his web site http://www.bendoregonrealestateexpert.com . To see more information on Bend Oregon click on the link below. http://bendoregonrealestateexpert.com/bendoregon.asp
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