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As the American economy continues to improve and citizens have more confidence and money to spend on housing, the value of real estate has grown across the country. Bend is no exception. Bend's average home price has grown by roughly 10% per year since coming out of the great recession, greatly due to the demand on housing coming from new residents moving to Central Oregon in large numbers. For many of these new transplants, the real estate market in their original city is greatly inflated and home values way beyond those of Bend. When they sell, they can often pocket a large amount of cash from the equity in their home. This in turn has driven up housing costs within the city as these new Bend residents can afford to purchase property which is beyond the ability of many locals.
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