Bend, OR Housing Market Update: November 2023 ️

Is Winter the Time to Buy? ️

Get ready for some stats y’all!

Because winter is absolutely the best time of year to get a deal.

..and we’re not just talking about Black Friday!

Winter is the BEST time to get a deal!

Why?

Sellers gotta sell.

If they are listing over winter it generally means they NEED to sell and are more motivated than folks who say, “oh, I’ll just wait to list my house until springtime”.

Less competition and more time to negotiate.

Recent stat: for every 1% drop in interest rates, an additional 8 MILLION buyers enter the market.

That’s what happened last week when we started seeing MULTIPLE OFFERS OVER ASKING! No joke.

Ready for another SUPER interesting stat?

9 out of 10 homeowners with mortgages have an interest rate BELOW 6%.

6 out of 10 homeowners with mortgages have an interest rate BELOW 4%.

Wanna know what that means?

It means they’re highly unlikely to sell their home and trade into a new home with an interest rate that’s more than double what they’re currently paying.

That’s why inventory is so low, and is expected to STAY LOW for a while.

The Fed is meeting this week and while we all wish they’d just give us a holiday miracle and push rates back down to 4%, it’s just not gonna happen.

When they do lower rates, it’ll be gradual and that means that we won’t see a flood of new inventory on the market beyond just the seasonal fluctuations we see each spring and summer, when most sellers decide it’s time to move on.

So what’s the point to all this?

Don't wait too long to act on a good deal!

And the best deals are had NOW, while others are decorating trees, wrapping gifts, and shopping at Costco.

Ready to snag the best deal of the year?

We need to chat today!

Email us and we’ll give you our list of the best deals on the market in Central Oregon.