Real Estate Market Recovery
According to the National Association of Realtors® the number of Pending home sales increased in March and are well above a year ago. Another signal the housing market is recovering. According to the The Pending Home Sales Index, pending sales rose 4.1 percent to 101.4 in March from an upwardly revised 97.4 in February and is 12.8 percent above March 2011. The data does not include closed sales.
It looks like 2012 is going to be a year of recovery for housing. First quarter closings were the highest first quarter sales in five years. The latest pending sales suggests the second quarter will be equally good.
“The housing market has clearly turned the corner. Rising sales are bringing down inventory and creating much more balanced conditions around the county, which means home prices will be rising in more areas as the year progresses.”
The index in the West increased 8.7 percent in March to 108.0 and is 9.0 percent over a year ago.
The NAR®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.
The Bend Oregon real estate market looks like it is going to bottom out this year. Homes under $250,000 are selling quickly if they are priced right. It looks like now is the time to buy.
If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.
Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate. Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert. E-MAIL Jim for information or go to Bank Foreclosure Information or you can use our Free MLS Search