Two major economic indicators, the percentage of distressed sales and the level of cash home buyers, continue to trend toward a more normalized housing market nationally – a trend we are also seeing in the Bend real estate market as well. This week CoreLogic reported a reduction in the level of foreclosed homes at the end of 2014 to be just 552,000, down from 840,000 at the end of 2013 (34.3 % reduction). This continues the streak of reduction of foreclosed homes inventory to 38 months in a row. Also, the percentage of cash buyers in the market continues to decline from its peak, where just four years ago one out of every two homes was purchased by a cash buyer. Cash sales at the end of 2014 now make up just 36% of all home sales… a favorable trend, but still quite a bit higher than the pre-2006 rates below 20%. The reasons given by CoreLogic for the number of cash buyers still being high are 1) a higher level of discretionary income among investors, and 2) home buyers are still finding it difficult to get a home loan.
Thanks to these two indicators, the trend remains positive toward a more normalized real estate market both nationally and in our Bend housing market. However, there still appears to be quite a bit of room for more improvements in the future
Leave a Comment
The content relating to real estate for sale on this website comes in part from the MLS of Central Oregon. Real Estate listings held by Brokerages other than Bend Premier Real Estate are marked with the Reciprocity/IDX logo, and detailed information about these properties includes the name of the listing Brokerage. © MLS of Central Oregon (MLSCO).
This content last updated on April 7th, 2020 at 2:59pm PDT. Some properties which appear for sale on this website may subsequently have sold or may no longer be available.
All information provided is deemed reliable but is not guaranteed and should be independently verified.
All content displayed on this website is restricted to personal, non-commercial use, and only for ascertaining information regarding real property for sale. The consumer will not copy, retransmit nor redistribute any of the content from this website. The consumer is reminded that all listing content provided by automatic transmission by MLSCO is © MLS of Central Oregon (MLSCO).