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Culture » Take Me Home

Year in Review for Bend and National Housing

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What is happening in the national housing market appears to be very true for Bend as well. According to the Beacon Report for December 2016, based on November MLS statistics, prices for Bend single family homes have increased by about 16 percent for the period of November 2015 to November 2016, but housing inventory has not improved and appears to be problematic for the coming year—coupled with other factors. The bright spot is that the increase in building permits over the prior year are up by 50 percent, but the number is low compared to the shortage of units

Most economists predict a continued strong demand for housing. Still, many prominent figures cite concerns about the impediments to first-time homebuyers entering the market, specifically millennials. We can predict that rental housing vacancy rates will continue to stay low until the shortage of housing stabilizes. The increases in interest rates will make it difficult for some first time buyers to afford a mortgage, but the overall consensus seems to be that job and wage growth will compensate for this and keep demand up.

Housing Round-Up

LOW

60847 Granite Dr., Bend, OR 97702

5 beds, 2 baths, 1,485 square feet, .27 acre lot

Built in 1973

$163,900

Listed by Cascade Sotheby's International Realty

MID

21058 Clairaway Ave., Bend, OR 97702

4 beds, 3 baths, 1,858 square feet, .46 acre lot

Built in 1976

$400,000

Listed by Duke Warner Realty

HIGH

3281 NW Fairway Heights Dr., Bend, OR 97701

4 beds, 3.5 baths, 3,248 square feet, .37 acre lot

Built in 2005

$745,000

Listed by Ms. Linda (L.A.) Judd P.C.

About The Author

Nick Nayne, Principal Broker

Principal Broker at The Broker Network Realty in Bend, OR. Over 12 years experience in Real Estate working with buyers, sellers and investment properties.

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