Real Estate Information Archive

Good Monday Morning!

There is a window of opportunity for home buyers right now that is most likley going to be short lived.  This window is mortgage interest rates that have dropped below 5% at the same time that we have a much softer housing market both nationally and here in the Eugene and Springfield area.  Locally, demand for housing has dropped off and the number of homes currently on the market has increased. The inventory of homes for sale currently is only something that home buyers dreamed about several months ago.  Yes, this window won't be here long because the Fed has already announced further rate hikes in the midst of attempting to slow the worst inflation in over 40 years.  Mortgage rates unfortunately will soon be heading back up. So if you are considering a home purchase, now is the time to take action.  Here is an article from "Realtor.com that speaks to the current national housing market".

Mortgage rates dropped to their lowest level since April, offering a reprieve to prospective home buyers who have been hit this year with higher rates and surging prices.

The average rate on a 30-year fixed-rate mortgage is 4.99% this week, down from 5.30% a week earlier, according to a survey by mortgage giant Freddie Mac published Thursday. Though rates remain well above their levels from a year ago, they have fallen swiftly in recent weeks from their 13-year high of 5.81% in June.

Mortgage rates and other measures of the cost of borrowing tend to rise and fall with expectations about the trajectory of the economy. Recently, fears that the U.S. is heading into a downturn have lowered expectations of the pace of rate rises.

Until the past few weeks, rising mortgage rates had been a key factor driving up the cost of home buying this year, adding hundreds of dollars or more to buyers’ monthly payments. That, on top of double-digit home-price growth, has helped drive buyers out of the market in recent months.

Sales of previously owned homes fell for a fifth straight month in June, according to the most recent data from the National Association of Realtors.

Elevated mortgage rates are one of the most direct effects on consumers from the Federal Reserve’s campaign to combat inflation. The central bank lifted its key policy rate by 0.75 percentage point last month, its second straight increase of that size, putting the benchmark policy rate in a range between 2.25% and 2.5%.

Those rates drive up borrowing costs for both companies and everyday Americans, making the cost of financing big-ticket purchases more expensive. While the Fed’s interest-rate increases are aimed in part at capping recent surges in the cost of housing, higher mortgage rates make it unlikely that prospective buyers who are using mortgages will get a bargain.

Mortgage rates are tied closely to the 10-year U.S. Treasury yield, which tends to move in tandem with expectations for the Fed’s benchmark rate. On Monday, the 10-year yield slipped to its lowest level since April. It rose Tuesday and Wednesday.

Still, rapid changes in mortgage rates are likely to continue as economists debate whether to be more concerned about inflation or a recession.

The high uncertainty surrounding inflation and other factors will likely cause rates to remain variable, especially as the Federal Reserve attempts to navigate the current economic environment,” said Sam Khater, Freddie Mac’s chief economist, in a statement.

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

Lot 23 Abigail Lane, Eugene, OR 

Price: $110,000    Acres: 0.14    Zoning: R-1

Build your dream home on this South Eugene Lot with beautiful sweeping views of trees, the valley and city. Home plans to take advantage of this amazing lot are available with the purchase. This beautiful upscale neighborhood is a short distance fro...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

As inflation continues to roar, a bright spot is that mortgage interest rates have fallen even further.  This is a good indication that inflation is hitting the national housing market as home sales continue to decline for the fifth straight month.  The good news for home buyers right now is that prices have slumped and mortgage rates have dropped.  This is giving home buyers what will most likely be a small window of opportunity to jump into the market with lower housing costs and better interest rates.  How long this trend will last is anyones guess.  My suggestion is that if you are thinking about purchasing a home this year, don't wait.  This opportunity may not be with us for long.  Here is an article from "Realtor.com" that discusses this current situation.

Mortgage rates fell after rising for two straight weeks, another indication that recession concerns are impacting the U.S. housing market.

The average rate on a 30-year fixed-rate mortgage dropped to 5.3%, mortgage-finance giant Freddie Mac said Thursday. That is down from 5.54% last week and below the 13-year high of 5.81% recorded in June. At the beginning of the year, rates on America’s most common home loan hovered around 3.2%.

The 5.3% rate was recorded before the Federal Reserve’s announcement Wednesday that it would raise its benchmark rate by 0.75 percentage point. While mortgage rates don’t automatically move when the Fed raises rates, they are heavily influenced by it. Mortgage rates are tied closely to the 10-year U.S. Treasury yield, which tends to move in tandem with expectations for the Fed’s benchmark rate.

Over the past week, investors have piled into U.S. Treasurys, often seen as a haven during times of economic uncertainty. This week, the yield on the benchmark 10-year Treasury fell to its lowest level since April. Yields fall when prices rise.

The U.S. economy shrank for the second quarter in a row, the Commerce Department said Thursday. Gross domestic product from residential investment, including the construction of single and multifamily homes and remodeling, fell 14%. This category accounts for between 3% and 5% of GDP, according to the National Association of Home Builders.

“Housing tends to lead the rest of the economy, and we expect that pattern will hold this cycle as well,” said Mike Fratantoni, chief economist at the Mortgage Bankers Association.

Rising mortgage rates and continued double-digit price growth have made buying a home even less affordable, slowing the housing market in recent months. The median American household needed $2,398 to cover mortgage payments on a median-priced home in May, according to the Federal Reserve Bank of Atlanta. That is a 25% increase from $1,916 in January.

Sales of existing homes have fallen for five straight months, according to the National Association of Realtors.

We expect that this slower pace will remain through the summer, but buyers could return later this year if the Fed’s plans are better understood by the market and lead to less rate volatility,” Mr. Fratantoni said.

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

1553 Linwood Street, Eugene, OR 

Price: $625,000    Beds: 7    Baths: 2.0    Sq Ft: 3100

Great potential for live in owner/manager. Unique property with seven separate living units. large covered patio and deck areas. 2 car garage, rv parking with rv hookup and dump, irrigation well. Updates and construction are fully permitted. This ho...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

The Real Estate market in the Eugene and Springfield area is changing, but intersting enough the change here is much slower than that of most of the nation.  Higher mortgage interest rates and extremely high inflation are beginning to take a toll on the national housing market and economy, but when you look at the numbers, Eugene and Springfield are changing, but not rapidly.  This is consistent with what we have seen in our area during past economic change.  Eugene and Springfield just dont seem to be subject to rapid change with housing.  With all of that, we have a brief reduction in mortgage interest rates.  This seems to have kicked our market back into high gear.  If you are a buyer, I suggest that you act now before mortgage rates once again start their trend upwards.  For sellers, the same thing, act now.  The continuation of a hot sellers market may be changing, so act now and don't wait to get your home on the market.  The following report is the sales numbers for Lane County in the month of June 2022.

Residential Highlights

New listings (632) decreased 0.2% from the 633 listed in June 2021, and increased 4.5% from the 605 listed in May 2022.

Pending sales (440) decreased 15.5% from the 521 offers accepted in June 2021, and decreased 9.1% from the 484 offers accepted in May 2022.

Closed sales (465) decreased 9.9% from the 516 closings in June 2021, and increased 9.4% from the 425 closings in May 2022.

Inventory and Market Time

Inventory increased to 1.1 months in June. Total market time decreased to 18 days.

Year-To-Date Summary

Comparing the first six months of 2022 to the same period in 2021, new listings (3,057) increased 2.2%, pending sales (2,503) decreased 3.7%, and closed sales (2,304) increased 0.8%.

Average and Median Sale Prices

Comparing 2022 to 2021 through June, the average sale price has increased 14.8% from $414,600 to $475,900. In the same comparison, the median sale price has increased 13.0% from $385,000 to $435,000.

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

2377 Todd Street, Eugene, OR 

Price: $525,000    Beds: 3    Baths: 2.0    Sq Ft: 1591

Gorgeous meticulously cared for one level home with lots of windows and light. Beautiful views overlooking the wooded areas and neighborhood. Vaulted ceiling in the living room and very open area. Finished and heated two car garage. Private patio ar...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

Good news for a change.  Due to consumer fears over inflation, mortgage loan interest rates have decreased significantly.  For anyone thinking of purchasing a home now or in the near future, don't let this opportunity pass you by.  My bet is that our current lower mortgage rates are a temporary blip in the mortgage market.  With inflation roaring, the Fed is sure to raise rates again and with this look for mortgage rates to climb again. I would hate to guess as to how high mortgage rates might go, but unless there is a significant change in US economic policy, don't look for any further trends of mortgage rates getting more favorable.  Here is an article from "Realtor.com" that talks about the recent events in the mortgage world.

Mortgage rates have fallen to the lowest level since December 2008.

The 30-year fixed-rate mortgage averaged 5.3% for the week ending July 7, according to according to data released by Freddie Mac on Thursday. That’s down 40 basis points from the previous week—one basis point is equal to one hundredth of a percentage point, or 1% of 1%.

The average rate on the 15-year fixed-rate mortgage dropped 38 basis points over the past week to 4.45%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 4.19%, down 31 basis points from the prior week.

“Over the last two weeks, the 30-year fixed-rate mortgage dropped by half a percent, as concerns about a potential recession continue to rise,” Sam Khater, chief economist at Freddie Mac, said in a press release.

“While the drop provides minor relief to buyers, the housing market will continue to normalize if home price growth materially slows due to the combination of low housing affordability and an expected economic slowdown,” he added.

The drop in rates, alongside a a 5.4% drop in mortgage applications for the week ending July 1, reveals a broader cooling in the housing market.

The mortgage applications data is reported by the Mortgage Bankers Association on a weekly basis.

“Mortgage rates decreased for the second week in a row, as growing concerns over an economic slowdown and increased recessionary risks kept Treasury yields lower,” the association’s Joel Kan said on Wednesday.

Still, rates are much higher than they were a year ago. The 30-year averaged at 2.9% same time last year, Freddie Mac said.

The yield on the 10-year Treasury note rose above 2.95% during the morning trading session.

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

85808 Lorane Hwy, Eugene, OR 

Price: $1,995,000    Beds: 5    Baths: 4.5    Sq Ft: 5350

Stunning Home And Property. Complete remodel with brazilian cherry hardwood floors, granite counters, new carpets, large sub-zero fridge, 6 burner commercial gas range and hood, walk in pantry, auto blinds, covered patio with creek/waterfall feature...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

Home sales both here in the Eugene and Springfield area and nationally have fallen off.  What is interesting is that home prices have not declined as of yet.  This may be temporary in our local market though as time on the market is beginning to increase and we are seeing a substantial number of price reductions on homes listed for sale.  The market is certainly softening and with that, we will typically see home prices begin to slump.  Higher mortgage interest rates and declining consumer confidence along with runaway inflation are all taking their tolls on housing.  I don't have a crystal ball, but my prediction for the remainder of the Summer housing market locally is for a slowing market with further mortgage rate increases and home prices that actually begin declining.  Time will tell.  Here is a recent article from "Realtor.com" that speaks to the changes in the national housing market.

The numbers: U.S. existing-home sales fell 3.4% to a seasonally adjusted annual rate of 5.41 million in May, the National Association of Realtors said Tuesday. Compared with May 2021, home sales were down 8.6%.

The decline was in line with the forecast of economists polled by the Wall Street Journal.

This is the fourth straight monthly decline and comes as mortgage rates have spiked and prices have risen.

Key details: The median price for an existing home rose to a record $407,600, up 14.8% from May 2021.  It is the first time above the $400,000 level.

The number of homes on the market rose 12.6% to 1.16 million units in May. This is still down 4.1% from one year ago.

Expressed in terms of the months-supply metric, there was a 2.6-month supply of homes for sale in May, up from 2.2 months in April. Before the pandemic, a 4-month supply was more the norm.

Homes remained on the market only for 16 days on average, the fastest on record.

Regionally, sales fell in all regions of the country except the Northeast.

All-cash transactions made up 25% of all transactions, down from 26% in April. About 27% of homes were sold to first-time home buyers.

Big picture: The housing sector is starting to soften, after running red-hot during the coronavirus pandemic.

Borrowing costs are surging, making home ownership more expensive for would-be buyers. Not only did the Federal Reserve tighten monetary policy, mortgage rates are also surging. As of Thursday, the average rate for a 30-year fixed-rate mortgage was 5.78%, according to Freddie Mac.

Meanwhile, construction on new homes plunged to a two-year low in the month of May, reflecting increasing wariness among homebuilders, economists said.

The next few months of data will reflect the impact of higher mortgage rates, Richard Moody, chief economist at Regions Financial Corporation, said in a preview note. He added that he expects to see “erosion in sales, and price pressures … [to] ease as listings sit on the market for longer periods of time.”

What the realtors said: “Home sales right now, after two years of gangbuster activity, is trending back down to pre-pandemic levels,” said Lawrence Yun, chief economist at the NAR. “I do anticipate further declines in home sales,” he added, as “the impact of higher mortgage rates has not been fully reflected in the data.”

Prices were still high, and homes were still selling very fast, Yun noted, despite mortgage rates rising and the overall existing-home sales number sinking. These are very “unusual” market conditions, he stressed, primarily driven by insufficient inventory.

What are they saying? “In short, while the housing market is cooling, it remains robust, at least for now,” Stephen Stanley, chief economist at Amherst Pierpont, said in a note.

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

3847 Boresek Ln, Eugene, OR 

Price: $599,900    Beds: 4    Baths: 3.0    Sq Ft: 2504

Wonderfully kept home in great neighborhood! All rooms are spacious with a fantastic layout. Newer roof, gas water heater, gas forced air and exterior paint, make it move in ready and available for your preference of updates to make it home! Amazing...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

Last week saw mortgage interest rates rise rapidly at a rate seldom seen.  You could say that most of us saw this coming, but few people, including myself expected to see mortgage rates rise at the pace they have. The increase in mortgage rates is certainly going to have an impact and it will make home purchases tough for many buyers at this time.  Rapid change like we witnessed always has an impact, but as the dust settles the rate increase may not be as impactful as it has been initially.  The rate increase will create a situation with fewer buyers in the market, this will put immediate pressure on home prices and as sales slow and home inventories creep up from all time lows.  If mortgage rates will just stabilize at this point, home prices will fall enough over time to bring affordability back.  Also, in the works are some very attractive ARM mortgage products and possibly even a 40 year FHA loan product.  All of this will inch homebuyer purchase ability back to a reasonable level.  The wild card is the question as to whether inflation will continue at its current extreme level and force further interest rate bumps.  If this takes place, then we will have to wait and see how the housing market reacts. The following is and update from "Realtor.com."

The U.S. 30-year fixed-rate mortgage averaged 5.78% for the week ending June 16, according to data released by Freddie Mac on Thursday. That’s up 55 basis points from the previous week—one basis point is equal to one hundredth of a percentage point.

The average rate on the 15-year fixed-rate mortgage rose 43bp over the past week to 4.81%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 4.33%, up 21bp from the prior week.

“Mortgage rates surged as the 30-year fixed-rate mortgage moved up more than half a percentage point, marking the largest one-week increase in our survey since 1987,” Sam Khater, Freddie Mac’s chief economist, said in a press release.

“These higher rates are the result of a shift in expectations about inflation and the course of monetary policy,” he added. “Higher mortgage rates will lead to moderation from the blistering pace of housing activity that we have experienced coming out of the pandemic, ultimately resulting in a more balanced housing market.”

The rise in mortgage rates comes a day after the Federal Reserve raised its benchmark interest rate by 75bp—the highest hike since 1994—in an attempt to address curb surging inflation.

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

3847 Boresek Ln, Eugene, OR 

Price: $599,900    Beds: 4    Baths: 3.0    Sq Ft: 2504

Wonderfully kept home in great neighborhood! All rooms are spacious with a fantastic layout. Newer roof, gas water heater, gas forced air and exterior paint, make it move in ready and available for your preference of updates to make it home! Amazing...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

The Real Estate market in the Eugene and Springfield area is certainly beginning to show signs of change.  It is interesting though that this is still not being indicated by the home sales statistics. What I am beginning to notice though is that many homes sit on the market without selling right away now and to get showing activity the sellers have to drop their price.  I am seeing many price reductions and some multiple price reductions now.  This was unheard of just a few months ago.  I would guess that June home sales statistics are going to indicate a market shift much more clearly than the May statistics do.  One thing that is clear is that our economy, both local and national is beginning to see a steep downward trend.  Much of this trend is being caused by inflation, which is beginning to take it's toll. Higher costs of living and higher mortgage interest rates are going to have a long term negative effect on home sales.  The worst has not hit us yet, so if you are thinking of selling your home this year, I will repeat myself in saying, "DON'T WAIT!". The folowing are the home sale statistics for Lane County in the month of May 2022.

Residential Highlights

New listings (605) decreased 0.5% from the 608 listed in May 2021, and increased 23.5% from the 490 listed in April 2022.

Pending sales (484) decreased 12.6% from the 554 offers accepted in May 2021, and increased 6.8% from the 453 offers accepted in April 2022.

Closed sales (425) increased 7.9% from the 394 closings in May 2021, and increased 3.4% from the 411 closings in April 2022.

Inventory and Market Time

Inventory increased to 0.9 months in May. Total market time decreased to 23 days.

Year-To-Date Summary

Comparing the first five months of 2022 to the same period in 2021, new listings (2,413) increased 2.9%, pending sales (2,082) decreased 0.7%, and closed sales (1,826) increased 3.9%.

Average and Median Sale Prices

Comparing 2022 to 2021 through May, the average sale price has increased 17.1% from $404,100 to $473,000. In the same comparison, the median sale price has increased 15.5% from $375,000 to $433,000.

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

2820 S 8th Street, Lebanon, OR 

Price: $349,000    Beds: 3    Baths: 1.5    Sq Ft: 1160

Wonderfully kept home in great neighborhood! All rooms are spacious with a fantastic layout. Newer roof, gas water heater, gas forced air and exterior paint, make it move in ready and available for your preference of updates to make it home! Amazing...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

In the ever changing world of Real Estate, home prices both here in the Eugene and Springfield area and nationally continue their upward trend.  The lack of homes for sale is the primary cause for this continued home price escalation, but even with low home inventories, buyer demand is slowing quickly due to increased mortgage intereste rates, high home prices and an economy that is in serious decline with no sign of changing anytime soon.  As I have been predicting for months, home prices will begin to flatten and may even reverse and begin a downward trend soon.  This is evidenced in our local market by fewer buyers looking at homes, many price reductions for homes sitting on the market and not selling and the lack of multiple offers like we witnessed in the past months. If you are considering selling your home soon, you may have missed the red hot market we had for several years, but the market you have today and the value of your home today are much stronger than what lies ahead, so do not wait to put your home on the market thinking that our current downturn will pass anytime soon.  Here is an article from "Realtor.com" that talks about about current national Real Estate market.

The numbers: U.S. home prices rose again in March even as higher mortgage rates began to bite, leaving prices at all-time highs. The S&P CoreLogic Case-Shiller 20-city price index was up a record 21.2% year over year while the federal government’s price tracker climbed 19% in the same span.

The Case Shiller index rose 3.1% in March compared to the prior month. A separate report from the Federal Housing Finance Agency showed a 1.5% monthly increase.

The big picture: The record increases in home prices over the past few years is bound to slow with the Federal Reserve raising interest rates. The cost of a 30-year fixed mortgage has almost doubled to about 5.25% from 2.75% last fall.

Key details: The year-over-year increase in the 20-city Case Shiller prices index bested the previous record of 20.3% in February.

Phoenix once again recorded the highest rate of home-price rises in the in the country in March, according to the Case-Shiller report. Prices were up a whopping 32% from one year ago.

Dallas also posted a 30.7% increase in the past year.

The smallest increases were largely in older cities in the Northeast and Midwest such as Washington, Boston, New York, Minneapolis and Chicago.

Still, prices were up 12.9% in Washington, which had the smallest year-over-year gain.

Looking ahead: Demand is waning—evident in weakening purchase applications and home sales—in response to sharply higher mortgage rates, which should provide some relief on prices,” said Rubeela Farooqi, chief U.S. economist at High Frequency Economics. “Even so, for now, prices are showing little sign of abating.”

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

3847 Boresek Ln, Eugene, OR 

Price: $619,900    Beds: 4    Baths: 3.0    Sq Ft: 2504

This light filled home is on a private drive with a 1/3 acre yard backing to Spring Creek. Spacious floor plan is perfect for extended living w/ a main level bedroom & bathroom. Great room concept w/ eating bar, granite kitchen counters & slider to...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

There have not been any huge market changes in the Eugene and Springfield housing market over the past several months, but the overall market is in decline here as it is nationally.  Nationwide home inventories are an issue and are currently at slightly over two months of inventory.  In the Eugene and Springfield area those inventories of homes for sale are slightly over 2 weeks of inventory.  This situation may not change any time soon and homebuyers will continue to struggle with finding a home because of it. If there is a bright spot in all of this, homeownership remains the safest place for your money during high inflation and poor economic times. If you are wanting to purchase a home, be patient.  We are finding great homes for all of our buyers in this market.  If you are wanting to purchase a home, don't procrastonate and don't be shy about this market.  Waiting could cost you thousands of dollars. Here is an article with a national Real Estate market report from "Realtor.com".

The numbers: Existing-home sales fell 2.4% to a seasonally adjusted annual rate of 5.61 million in April, the National Association of Realtors said Thursday. Compared with April 2021, home sales were down 5.9%.

Economists polled by the Wall Street Journal had expected an decrease to 5.64 million units.

This is the third straight monthly decline and comes as mortgage rates have spiked and prices have risen.

Key details: Scarcity of homes for sale continued to be a major factor. The total inventory of homes for sale was 1.03 million units, down 10.4% from one year ago.

Expressed in terms of the months-supply, there was a 2.2-month supply of homes for sale in April. Before the pandemic, a 4-month supply was more the norm.

The median price for an existing home was an all-time high of $391,200, up 14.8% from April 2021.

Homes remained on the market for 17 days on average.

Regionally, sales rose in the Northeast and Midwest and sank in the South and the West.

All-cash transactions made up 26% of all transactions. About 28% of homes were sold to first-time home buyers.

What NAR is saying? “I expect further declines in home sales,” said Lawrence Yun, the National Association of Realtors’ chief economist, in a discussion with reporters. Mortgage rates are rising and supply remains low., he noted. There is less incentive for homeowners to list their properties because they would lose their super-low mortgage rates. 

Market reaction: Stocks opened lower on Thursday on continued growth concerns. The yield on the 10-year Treasury note fell to 2.8% on flight-to-safety trading.

The numbers: Existing-home sales fell 2.4% to a seasonally adjusted annual rate of 5.61 million in April, the National Association of Realtors said Thursday. Compared with April 2021, home sales were down 5.9%.

Economists polled by the Wall Street Journal had expected an decrease to 5.64 million units.

This is the third straight monthly decline and comes as mortgage rates have spiked and prices have risen.

Market reaction: Stocks opened lower on Thursday on continued growth concerns. The yield on the 10-year Treasury note fell to 2.8% on flight-to-safety trading.

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

3847 Boresek Ln, Eugene, OR 

Price: $629,900    Beds: 4    Baths: 3.0    Sq Ft: 2504

This light filled home is on a private drive with a 1/3 acre yard backing to Spring Creek. Spacious floor plan is perfect for extended living w/ a main level bedroom & bathroom. Great room concept w/ eating bar, granite kitchen counters & slider to...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

There has not been any significant change in the Eugene/Springfield area Real Estate market over the last month. The number of homes for sale hitting the market declined at the same time that then number of homes sold increased.  This indicates that we remain in a very strong sellers market at this time.  Long term, the rising mortgage interest rates and continued increases in home values are sure to slow this market.  As I have been saying for the past several months, if you are considering the sale of your home this year, DON'T WAIT!  The market you see today will not be with us much longer. Here are the current home sales statistics for Lane County in the month of April 2022.

New listings (490) decreased 6.3% from the 523 listed in April 2021, and decreased 7.5% from the 530 listed in March 2022.

Pending sales (453) decreased 0.9% from the 457 offers accepted in April 2021, and decreased 3.8% from the 471 offers accepted in March 2022.

Closed sales (411) increased 11.1% from the 370 closings in April 2021, and increased 1.2% from the 406 closings in March 2022.

Inventory and Market Time

Inventory held steady at 0.7 months in April. Total market time decreased to 25 days.

Year-To-Date Summary

Comparing the first four months of 2022 to the same period in 2021, new listings (1,804) increased 5.2%, pending sales (1,612) increased 3.3%, and closed sales (1,389) increased 2.9%.

Average and Median Sale Prices

Comparing 2022 to 2021 through April, the average sale price has increased 17.6% from $398,800 to $469,000. In the same comparison, the median sale price has increased 15.7% from $369,000 to $427,000.

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

531 T Street, Springfield, OR 

Price: $369,000    Beds: 3    Baths: 1.5    Sq Ft: 1090

This cute ranch style home has been nicely updated & is located in a convenient neighborhood close to the bus lines & shopping. Small RV parking, large 2-car garage, primary bedroom w/ large attached 1/2 bathroom, forced air heating, laminate floor...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!