Real Estate Information Archive

Good Monday Morning!

Mortgage interest rates have declined slightly, but this could be one of the last drops in rates we see for a while.  With inflation raging in our country and now with the passage of the infrastructure bill by Congress that will fuel further inflation, rates may begin to rise soon in an an attempt to curb the inflation rise. Inflation at levels this country has never seen is on the horizon due to reckless spending by the governement and poor money management policy.  Yes, this is soon to have a huge impact on homebuyers. As of right now, mortgage rates have declined some and this offers what many think will be your last shot at these incredible rates.  Here is an article that speaks to our current mortgage rate situation.

Offering slight relief to home buyers this week, the 30-year fixed-rate mortgage fell to a 3.09% average. But rates may rise again soon.

Housing analysts largely expect mortgage rates to increase in the following months due to the Federal Reserve’s announcement this week that it will slowly reduce its monthly bond purchases.

“While mortgage rates fell after several weeks on the rise, we expect future upticks due to strong economic data and as the Federal Reserve pulls back on its stimulus,” says Sam Khater, Freddie Mac’s chief economist. “That said, the housing market remains favorable for consumers, as rates remain below pre-pandemic levels and continue to support sustainable purchase and refinance opportunities.”

The National Association of REALTORS® forecasts the 30-year fixed-rate mortgage to average 3.5% by the second quarter of 2022.

How Will Higher Mortgage Rates Impact Home Buying?

Freddie Initiative Adds Rent Payments to Credit Reports

Freddie Mac reports the following national averages with mortgage rates for the week ending Nov. 4:

• 30-year fixed-rate mortgages: averaged 3.09%, with an average 0.7 points, falling from last week’s 3.14% average. Last year at this time, 30-year rates averaged 2.78%.
• 15-year fixed-rate mortgages: averaged 2.35%, with an average 0.6 points, decreasing from last week’s 2.37% average. A year ago, 15-year rates averaged 2.32%.
• 5-year Treasury-indexed hybrid adjustable-rate mortgages: averaged 2.54%, with an average 0.3 points, dropping from last week’s 2.56% average. A year ago, 5-year ARMs averaged 2.89%.

Freddie Mac reports average commitment rates along with average points to better reflect the total upfront cost of obtaining the mortgage.

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THIS WEEKS HOT HOME LISTING!

2947 Dry Creek Rd, Eugene, OR 

Price: $465,000    Beds: 3    Baths: 2.0    Sq Ft: 1609

Gorgeous and completely updated one level home. Granite counters, stainless appliances and very open kitchen family room. Large landscaped and fenced backyard with 400 sq foot + shop storage building. Beautiful fully covered patio, large RV parking...View this property >> 

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Good Monday Morning!

There certainly is no stopping the escalating home prices in the Eugene and Springfield area.  Even though the numbers of home buyers may be decreasing slightly, a shortage of homes for sale in our area is keeping home prices high and even increasing. The market of $400,000 homes and below remains tough and bidding wars may still take place.  Nationwide, this trend seems to be taking place as well.  How long this market will continue is anyones guess at this time.  If inflation continues to roar and interest rates rise as a result, the current market we are experiencing could come to a screeching halt.  Here is an article from "Realtor.com" that addresses to national housing market trends.

The numbers: Home prices maintain record levels

The pace of home-price growth slowed slightly in August, though buying a home remained more expensive.

The latest edition of the S&P CoreLogic Case-Shiller Home Price Index showed that home prices increased nationally 19.8% from a year ago in August, roughly in line with the previous month’s increase. The separate 20-city index, which measures price appreciation among a group of major metropolitan areas across the country, notched a 19.7% year-over-year gain, down from a revised 20% annual gain the month before.

“Every one of our city and composite indices stands at its all-time high, and year-over-year price growth continues to be very strong, although moderating somewhat from last month’s levels,” Craig J. Lazzara, managing director and global head of index investment strategy at S&P DJI, said in the report.

What happened

The top two cities to see the largest annual gains remained the same—Phoenix (33.3%) and San Diego (26.2%). But Tampa, Fla., edged out cities like Dallas and Seattle to record the third-largest gain in home prices nationwide, with a 25.9% increase.

All 20 of the major cities that the index tracks saw increases in home prices in August, but in most cases it was at a slower pace than in July.

The big picture

A separate report from the Federal Housing Finance Agency found that prices had risen 18.5% between August 2020 and August 2021. Regionally, there were significant variations in the direction of home prices.

The FHFA reported that home prices decreased very slightly in New England on a monthly basis between July and August, whereas they rose by nearly 2% over that same time frame in the South Atlantic region, which includes Delaware, Maryland, Virginia, West Virginia, North Carolina, South Carolina, Georgia and Florida.

“Annual house price gains remained extremely high in August but the pace of month-over-month gains continues to decelerate,” Lynn Fisher, the deputy director of the division of research and statistics at the FHFA, said in the report. “This does not mean house prices are at risk of declining—far from it, they continue to climb at a double-digit pace in all regions—but it does suggest we may have seen the peak in annual gains for the time being.”

What they’re saying

“Going forward, the conditions buyers face are primarily dependent on two things: mortgage rates and housing supply. The average mortgage rate for a 30-year fixed-rate loan rose 10 basis points from 2.77% to 2.87% in August and has breached 3.0% with no sign of slowing since then, limiting some buyers’ ability to push home prices higher.

Furthermore, the availability of homes for sale remains low as new construction climbs out of a decade-long deficit and the inventory of existing home listings continues to fall short from 2020 levels,” said Danielle Hale, chief economist at Realtor.com.

“Persistently strong demand among traditional homebuyers has been amplified by an increase in demand among investors this summer. Together, demand pressures continue to drive home-price growth higher, despite some early signs of buyer fatigue and slight improvements in the availability of for-sale homes,” said CoreLogic deputy chief economist Selma Hepp.

“And while strong home-price appreciation rates are narrowing the pool of buyers, particularly first-time buyers, the depth of the supply and demand imbalance and robust demand among higher-income earners will continue to push prices higher,” she added.

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THIS WEEKS HOT HOME LISTING!

1609 NW Oceanic Loop, Waldport, OR 

Price: $449,900    Beds: 2    Baths: 2.0    Sq Ft: 1228

BEAUTIFUL BEACH HOUSE located in Bayshore Beach Club in Waldport. One short block from the beach & club house. Decks w/ wind protection glass panels. Open floor plan w/ sliding doors in the living room, kitchen & primary bedroom. Den can be used as...View this property >> 

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Good Monday Morning!

The supply of homes for sale remains extremely low in the Eugene and Springfield market area.  This continues to drive home prices higher and frustrate home buyers.  In our area the difficulty of building affordable new homes isn't getting any easier.  The cost of building supplies, lumber and land are making it near impossible to provide affordable housing in our local market.  The combination of this with a low supply of existing homes is making home purchases difficult, especially for first time home buyers.  This situation is not just unique to our local market, but is taking place nation wide. The following is an article from "Realtor.com" that speaks to this situation.

The numbers: New construction slows down

U.S. home builders started construction on homes at a seasonally-adjusted annual rate of 1.56 million in September, representing a 1.6% decrease from the previous month, the U.S. Census Bureau reported Tuesday. Compared with September 2020, housing starts were up 7.4%.

The pace of permitting for new housing units also dropped in September. Permitting for new homes occurred at a seasonally-adjusted annual rate of 1.59 million, down 7.7% from August, in line with the rate of permitting from a year ago.

Economists polled by MarketWatch had expected housing starts to occur at a pace of 1.61 million and building permits to come in at a pace of 1.67 million.

The drop in permits was driven mainly by a decrease in multifamily housing units, though fewer single-family homes were permitted as well. Multifamily permits fell 21% on a monthly basis, while single-family permits decreased nearly 1%. The number of permits issued in September was the lowest it has been since a year ago, and all regions saw a downturn in permitting activity except for the Midwest.

Notably, there was a 22% increase in permits for buildings with between two and four housing units, such as duplexes and triplexes.

New construction on multifamily buildings also decreased in September, with a 5% downturn, though single-family starts remained unchanged from the previous month. It was the slowest pace for housing starts since April, driven by downturns in the Northeast and South.

The big picture

To a large extent, the month’s decline in housing starts and building permits could be a reflection of the ongoing operational hurdles construction firms are facing.

“New home starts declined in September after an initial rebound in August, amid continued concerns about delivery timelines,” said Kelly Mangold, a principal with RCLCO Real Estate Consulting. Shortages of building materials and labor mean that home builders are having a tough time completing projects as quickly as they had in the past. The number of housing projects completed in September fell nearly 5% from the previous month, slipping to the lowest level in over a year.

But another factor driving the slowdown in new construction is almost certainly the slight pullback in demand in the housing market today. “Demand has fallen back to its pre-COVID level, so new construction activity has softened,” Ian Shepherdson, chief economist at Pantheon Macroeconomics, wrote in a research note. “It remains elevated compared to the recent pace of new home sales because inventory is still low, and home builders don’t want to leave money on the table.”

He adds, though, that the recent recovery in the volume of mortgage applications for loans used to purchase homes could be the prelude to a rebound in home sales. That would lead to an uptick in construction, Shepherdson suggested.

What they’re saying

“With the supply of properties constrained in the existing home market and underlying housing demand remaining sturdy despite softening from its torrid turn-of the-year state, new residential construction has been trending up,” Michael Gregory, deputy chief economist for BMO Capital Markets, said in a research note, adding “that, once started, it’s now taking much longer to complete construction owing to supply bottlenecks and labor shortages.”

“The transition to remote work that began during the pandemic is maturing into the preferred long-term employment arrangement for the majority of Americans. This shift is also changing homebuyer preferences, with larger homes, quieter suburban neighborhoods, and access to the outdoors high on the list of must-haves. For builders, the biggest challenge remains building enough homes with these features at affordable prices,” noted George Ratiu, manager of economic research at Realtor.com.

Have An Awesome Week!

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

THIS WEEKS HOT HOME LISTING!

1616 Fetters Lp, Eugene, OR 

Price: $245,000    Beds: 2    Baths: 1.5    Sq Ft: 1118

Well maintained with newer carpet, interior paint and vinyl flooring. Sliding door to nice rear patio. Master has 3 closets! Two exterior storage areas in the front and back. HOA includes trash, landscaping, common areas, pool and covered carport. N...View this property >> 

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Good Monday Morning!

There has not been much change in the Real Estate market in the Eugene and Springfiled area over the past month.  The inventory of homes for sale has increased very slightly and home prices remained fairly steady, although they have increased significantly over the year.  As we go into Fall, I would look for the inventory of homes for sale to continue increasing.  My guess is that home prices will flatten out and could even decline in some areas and price ranges. Much of what takes place in our local housing market will depend upon mortgage interest rates and the overall economy.  Here are the numbers for home sales in Lane county for September of 2021.

Residential Highlights

New listings (498) increased 5.1% from the 474 listed in September 2020, and decreased 17.0% from the 600 listed in August 2021.

Pending sales (453) increased 1.3% from the 447 offers accepted in September 2020, and decreased 17.5% from the 549 offers accepted in August 2021.

Closed sales (459) increased 3.4% from the 444 closings in September 2020, and decreased 5.6% from the 486 closings in August 2021.

Inventory and Market Time

Inventory increased to 1.0 months in September. Total market time increased to 19 days.

Year-To-Date Summary

Comparing the first nine months of 2021 to the same period in 2020, new listings (4,751) increased 5.9%, pending sales (4,045) increased 4.7%, and closed sales (3,788) increased 9.0%.

Average and Median Sale Prices

Comparing 2021 to 2020 through September, the average sale price has increased 19.8% from $357,800 to $428,600. In the same comparison, the median sale price has increased 19.5% from $330,000 to $394,400.

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

THIS WEEKS HOT HOME LISTING!

4927 Fox Hollow Rd, Eugene, OR 

Price: $439,000    Beds: 3    Baths: 2.0    Sq Ft: 1366

Updated one level home in desirable East Eugene neighborhood. Beautiful views out of back of home into private wooded backyard. Large and open living room connected to family/dining room area. Large laundry room with plenty of storage. Home security...View this property >> 

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Good Monday Morning!

Just when we thought the super low mortgage interest rates had left us behind, the rates decided to take another drop. It is a pleasant suprise, but don't get too excited about these super low rates hanging in there for the long haul.  If you are sitting on the fence about a home purchase or a refinance, it might be wise to act quickly.  The following is and update on the current mortgage rate market from "Realtor.com".

Mortgage rates retreated below 3% this week, but the factors that pushed them higher in previous weeks remains—all while Americans grow increasingly frustrated with the competitive housing market.

The 30-year fixed-rate mortgage averaged 2.99% for the week ending Oct. 7, down two basis points from the previous week, Freddie Mac reported Thursday. Last year, this mortgage product carried an average interest rate of 2.87%.

The 15-year fixed-rate mortgage fell five basis points to an average of 2.23%, while the 5-year Treasury-indexed hybrid adjustable-rate mortgage rose by four basis point to an average of 2.52%.

“Mortgage rates continue to hover at around 3% again this week due to rising economic and financial market uncertainties,” Sam Khater, Freddie Mac’s chief economist, said in the report. “Unfortunately, with the expectation that both mortgage rates and home prices will continue to rise, competition remains high and housing affordability is declining.”

All that competition continues to weigh on consumers, causing them to sour on the housing market. The results of a new survey from Fannie Mae released Thursday showed that roughly two-thirds of consumers believe now is a bad time to buy a home, and most people think it’s a good time to sell. Over half of the survey takers said that home prices will either go up or stay the same over the next 12 months.

“In our view, other housing market fundamentals remain supportive of further home price appreciation—including low levels of inventory and low interest rate,” Doug Duncan, chief economist at Fannie Mae, said in the report.

The Fannie Mae survey also showed, though, that a growing number of people are likely in for a bad surprise when it comes to mortgage rates. The share of people who expect interest rates to drop over the next year went up slightly from 6% to 8%, but most economists expect rates to increase over that time frame.

Have An Awesome Week!

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

THIS WEEKS HOT HOME LISTING!

4927 Fox Hollow Rd, Eugene, OR 

Price: $439,000    Beds: 3    Baths: 2.0    Sq Ft: 1366

Updated one level home in desirable East Eugene neighborhood. Beautiful views out of back of home into private wooded backyard. Large and open living room connected to family/dining room area. Large laundry room with plenty of storage. Home security...View this property >> 

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Good Monday Morning!

For the first time in a long time, mortgage interest rates edged slightly higher last week.  This could signal the begining of the end for the super cheap rates we have been taking advatage of.  Mortgage rates at around 3% are still an unbelievable value, but all indications are that these rates may go higher.  If you are on the fence about either purchasing or selling a home, now is the time to act.  If rates continue to rise, the market we have today may be changing and your ability to sell at top value and your ability to purchase with super low mortgage rates may erode.  Here is a recent article from "Realtor.com" that talks about the recent changes in mortgage rates.

The rise in mortgage rates followed the upward climb of the 10-year U.S. Treasury yield over the past week—the long-term bond rose to the highest level since June. In both cases, the surge in interest rates came as a reaction to last week’s statement from the Federal Reserve. The central bank signaled it would begin tapering the asset-buying activities that it began last year in an effort to stimulate the economy. The central bankers also indicated that an interest-rate hike could come in 2022.

Among the assets that the Fed has been buying on a monthly basis are mortgage-backed securities. Those purchases by the central bank helped to pump a ton of liquidity into the mortgage market, which allowed lenders to cut interest rates. With the size of the Fed’s purchases likely to decrease later this fall, lenders will be forced to increase rates, according to economists.

That could have ripple effects into the broader housing market. “Mortgage rates remain low and are supporting demand” for homes, Rubeela Farooqi, chief U.S. economist for High Frequency Economics, wrote in a research note Thursday. “However, the incentive to buyers could diminish if rates rise once the Fed starts tapering.”

For buyers still in the market, it will become important to factor in the potential for rising interest rates when determining their budgets, Hale said.

Smart buyers should consider calculating a monthly payment not only at today’s rates, but also at rates that are a bit higher so that they won’t be derailed by a sudden upward move,” Hale said. “Additionally, home shoppers want to carefully consider their must-haves versus nice-to-haves since both rising home prices and higher rates mean higher monthly payments.”

Have An Awesome Week!

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

THIS WEEKS HOT HOME LISTING!

1616 Fetters Loop, Eugene, OR 

Price: $245,000    Beds: 2    Baths: 1.5    Sq Ft: 1118

Well maintained with newer carpet, interior paint and vinyl flooring. Sliding door to nice rear patio. Master has 3 closets! Two exterior storage areas in the front and back. HOA includes trash, landscaping, common areas, pool and covered carport. N...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

For the first time in a long time, mortgage interest rates edged slightly higher last week.  This could signal the begining of the end for the super cheap rates we have been taking advatage of.  Mortgage rates at around 3% are still an unbelievable value, but all indications are that these rates may go higher.  If you are on the fence about either purchasing or selling a home, now is the time to act.  If rates continue to rise, the market we have today may be changing and your ability to sell at top value and your ability to purchase with super low mortgage rates may erode.  Here is a recent article from "Realtor.com" that talks about the recent changes in mortgage rates.

The rise in mortgage rates followed the upward climb of the 10-year U.S. Treasury yield over the past week—the long-term bond rose to the highest level since June. In both cases, the surge in interest rates came as a reaction to last week’s statement from the Federal Reserve. The central bank signaled it would begin tapering the asset-buying activities that it began last year in an effort to stimulate the economy. The central bankers also indicated that an interest-rate hike could come in 2022.

Among the assets that the Fed has been buying on a monthly basis are mortgage-backed securities. Those purchases by the central bank helped to pump a ton of liquidity into the mortgage market, which allowed lenders to cut interest rates. With the size of the Fed’s purchases likely to decrease later this fall, lenders will be forced to increase rates, according to economists.

That could have ripple effects into the broader housing market. “Mortgage rates remain low and are supporting demand” for homes, Rubeela Farooqi, chief U.S. economist for High Frequency Economics, wrote in a research note Thursday. “However, the incentive to buyers could diminish if rates rise once the Fed starts tapering.”

For buyers still in the market, it will become important to factor in the potential for rising interest rates when determining their budgets, Hale said.

Smart buyers should consider calculating a monthly payment not only at today’s rates, but also at rates that are a bit higher so that they won’t be derailed by a sudden upward move,” Hale said. “Additionally, home shoppers want to carefully consider their must-haves versus nice-to-haves since both rising home prices and higher rates mean higher monthly payments.”

Have An Awesome Week!

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

THIS WEEKS HOT HOME LISTING!

1616 Fetters Loop, Eugene, OR 

Price: $245,000    Beds: 2    Baths: 1.5    Sq Ft: 1118

Well maintained with newer carpet, interior paint and vinyl flooring. Sliding door to nice rear patio. Master has 3 closets! Two exterior storage areas in the front and back. HOA includes trash, landscaping, common areas, pool and covered carport. N...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

The housing market both locally and nationally remains strong and with this home prices continue to climb.  Here in Lane County the average home sale price is $450,000.  Its hard to beleive that home prices have surged to this level here, but most of the nation has experienced a similar situation.  The following is a report on home sale values nationally.

The numbers: Sales of new homes in the U.S. rose in August, as the market for newly constructed buildings continues to show signs of stabilization after months of declines.

U.S. new-home sales increased 1.5% to an annual rate of 740,000, the government said Friday. The figure equates to how many homes would be sold over a yearlong period of time if the same number were bought in each month based on the rate of sales in July. Compared to a year ago, sales were down 24%.

The median forecast of economists polled by MarketWatch was that new home sales would come in at an annual rate of 720,000 for August.

Unlike the existing-home sales report from the National Association of Realtors, the new-home sales report from the U.S. Census Bureau captures sales when the contract is signed rather than when the sale is closed.

The report’s small sample size also means that it is quite volatile and prone to significant revisions. Indeed, the sales figure for July was upwardly revised to 729,000 from the originally reported number of 708,000.

What happened: The median sales price of new houses sold in August was $390,900, matching July’s figure, which was a record high. The supply of new homes for sale increased between July and August, equating to a 6.1-month supply of homes.

Regionally, the Northeast notched the largest gain in new-home sales, while the Midwest was the only part of the country to record a decrease.

The big picture: Whether new home sales can keep this steady pace will depend upon how willing buyers are to stomach rising prices—especially given expectations that mortgage rates are set to increase given the Federal Reserve’s shifting policies.

“Buyers show signs of having moved past a ‘land-a-home-at-all-costs’ mentality as rising home prices mean purchasing a home—whether new or existing—requires a larger share of the typical American’s paycheck,” said Danielle Hale, the chief economist at Realtor.com. “Consumers were recalibrating priorities this summer, balancing the resumption of travel, vacations and dining out with big ticket budget items like home-buying or renting—and doing so in the face of rising costs on just about everything.”

What they’re saying: “New home sales have fallen sharply this year, but they have not dropped as far as the mortgage applications data suggest. That’s probably because the proportion of cash buyers, who don’t appear in the mortgage data, has risen, as it clearly has in the existing homes market,” Ian Shepherdson, the chief economist at Pantheon Macroeconomics, said in a research note.

Market reaction: The Dow Jones Industrial Average and S&P 500 index both experienced slight increases in Friday morning trades.

However, major home-builder stocks such as D.R. Horton, Lennar Corp. and PulteGroup were mixed following the new home sales report’s release.

Have An Awesome Week!

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

THIS WEEKS HOT HOME LISTING!

2941 Edgewater Dr, Eugene, OR 

Price: $1,125,000    Beds: 3    Baths: 4.0    Sq Ft: 3397

Don't miss this elegant 1-level executive home in a quiet cul-de-sac. Large covered patio w/ infrared ceiling heat & a gas fire table overlook a pond & waterfall making it a relaxing & private retreat. Spacious indoor/outdoor entertaining w/ Sonos s...View this property >> 

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Good Monday Morning!

Mortgage interest rates are a key ingredient for keeping the current Real Estate market active.  With the escalation in home prices in our area, low interest rates are keeping home payments at an affordable level.  Any mortgage interest rate increases at this time may have a strong negative effect on home affordability and the overall housing market. The following is an article from "Realtor.com" that talks about current mortgage interest rates.

Mortgage rates edged slightly higher but remained close to all-time lows, despite disappointing economic reports over the past week.

The 30-year fixed-rate mortgage averaged 2.88% for the week ending Sept. 2, up one basis point from the previous week, Freddie Mac reported Thursday. Mortgage rates are now above their level from last year — a year ago, the 30-year loan averaged 2.86%.

The 15-year fixed-rate mortgage increased one basis point over the past week to an average of 2.19%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage fell by that same amount to an average of 2.42%.

For home buyers, the holding pattern mortgage rates have remained in for the past few weeks is welcome, given the likelihood of higher rates in the future.

“With inflation a simmering concern, when mortgage rates do begin to move, they will most likely move higher,” said Danielle Hale, chief economist at Realtor.com. “For homebuyers and refinancers alike, mortgage rates remain favorable, but may not remain so for long.”

While mortgage rates have remained stable in recent weeks, it has not led to an increased flow of applications from potential home buyers. The most recent mortgage application data from the Mortgage Bankers Association showed that the volume of applications for loans used to buy homes is down significantly in recent weeks.

Buyers remained constrained by the lack of homes for sale on the existing-homes side of the market, as evidenced by recent reports on the state of the housing market.

“Housing, while likely to remain reasonably solid, is not going to be as red-hot going forward as it had been, nor is it going to continue to slide for very long like it has recently,” Joshua Shapiro, chief U.S. economist at MFR Inc., wrote in a research report Wednesday.

Have An Awesome Week!

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

THIS WEEKS HOT HOME LISTING!

1691 Mill St, Eugene, OR 

Price: $980,000    Beds: 9    Baths: 4.0    Sq Ft: 3600

Restored 1905 Historic home. Sale includes 1691 Mill St. and 417 E. 11th Ave. Both homes are on the same tax lot. Currently a campus rental. 1691 has a 3 bedroom rental unit and a 2 bedroom rental unit. 417 has 2 two bedroom rental units. for a tota...View this property >> 

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Good Monday Morning!

The numbers are in for August 2021 home sales in the Eugene and Springfield area.  As you will see, there has been little change.  Home inventories remain very low, home prices continue to escalate and mortgage interest rates remain extremely low and favorable.  I will say that I feel we are on the edge of a market shift.  There are indicators starting to show that would suggest a change is on the horizon.  If you are thinking about selling your home in this strong market, don't wait.  There may not be much time remaining to take advantage of this sellers market.  Here are the August 2021 home sales numbers for Lane County.

New listings (600) increased 2.6% from the 585 listed in August 2020, and decreased 2.0% from the 612 listed in July 2021.

Pending sales (549) decreased 2.7% from the 564 offers accepted in August 2020, and increased 6.0% from the 518 offers accepted in July 2021.

Closed sales (486) decreased 0.2% from the 487 closings in August 2020, and decreased 2.6% from the 499 closings in July 2021.

Inventory and Market Time

Inventory increased to 0.9 months in August. Total market time decreased to 17 days.

Year-To-Date Summary

Comparing the first eight months of 2021 to the same period in 2020, new listings (4,236) increased 5.7%, pending sales (3,624) increased 4.6%, and closed sales (3,304) increased 9.5%.

Average and Median Sale Prices

Comparing 2021 to 2020 through August, the average sale price has increased 19.9% from $355,100 to $425,900. In the same comparison, the median sale price has increased 19.5% from $328,000 to $392,000.

Have An Awesome Week!

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

THIS WEEKS HOT HOME LISTING!

2941 Edgewater Dr, Eugene, OR 

Price: $1,125,000    Beds: 3    Baths: 4.0    Sq Ft: 3397

Don't miss this elegant 1-level executive home in a quiet cul-de-sac. Large covered patio w/ infrared ceiling heat & a gas fire table overlook a pond & waterfall making it a relaxing & private retreat. Spacious indoor/outdoor entertaining w/ Sonos s...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!