Posts from October 10th, 2022
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Bend Oregon Real Estate | September 2022 Trends
The Brakes Are On With Bend Real Estate Sales
Ask any real estate agent across the country about the current state of the market, they will tell you things have changed dramatically since earlier in the year. Ask a Bend Premier Real Estate Broker about the local market, they will tell you that it is as if the brakes have been hit stopping a jet plane. The fed's increase in interest rates is being done to curtail inflation. When it comes to the housing industry, this tightening is working. Bend home sales are falling, days on market are rising, yet home prices are still up. Mortgage interest rates are now approaching 7% for a 30 year fixed, a figure which hasn't been seen since 2002. Each percentage increase in interest rates reduces homebuyer's buying power by 10-12%. As the number of pending...