Early Predictions for the Central Oregon Housing Market in 2023
Posted by Mark Ossinger on
Early Predictions for the Central Oregon Housing Market 2023
Area Pricing has hit a Plateau, and market trends are flat for Bend, Redmond, Sisters and even down to the Sunriver area. This real estate market shift and cooling is largely due to rising interest rates, record-high inflation, and broader global and economic uncertainties. Consumer confidence is low, and many are putting off large purchases, such as housing and moving, for the next year or so.
Bucking this downward trend, yet at a much slower pace, is the Central Oregon housing market. The Bend, Redmond, Sisters and parts of the Sunriver markets, once analyzed, will experience modest price appreciation into 2023 of between 3 to 7%, respectively. However, make no mistake, the 2023 market…
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The real estate market has changed, and will continue into the months ahead. This new trend will benefit some, yet others may find it less than optimum. Real Estate is a market, and markets cycle, so this recent trend driven by the rising interest rate should not surprise. For many, there will be questions and concerns about trying to sell in a market that is slowing, with asking prices softening. And those questions can only be answered by a Real Estate Broker, who is following the market very closely, and pricing houses daily. Accurate pricing is the most important factor in a declining market. Pricing "in the money" is of highest value, if you as a seller want to sell your property at the prevailing market value. Failing to set an accurate price will…