Bend: The #1 Reason to List Your House Right Now!

Real Estate

The #1 Reason to List Your House In Bend Right This Moment!

The success of the U.S. residential real estate market, like any other market, is determined by supply and demand.  We have seen an inventory shortage throughout Central Oregon and this means we need to look at how many potential purchasers are in the market versus the number of houses that are available to buy. With early 2020 housing data now rolling in, it’s quite evident there are two big stories impacting this year’s residential real estate market:

1. Buyer demand is extremely strong and still building!
2. Housing supply is at a historically low level, especially ANYTHING in the middle income bracket!

Demand
Showing Time is a firm that compiles data from property showings scheduled across the country. The latest ShowingTime Showing Index reveals how showings have increased in each of the country’s four regions for five months in a row.  As a local Realtor, I can see new listings and the amount of agents viewing each property.

Supply
Move.com also just released information indicating that the number of homes currently for sale has declined rapidly and now sits at the lowest level in almost a decade. And I'm sure you've noticed!  Their representatives explained that the “National housing inventory declined 13.6 percent in January, the steepest year-over-year decrease in more than 4 years, pushing the supply of for sale homes in the U.S. to its lowest level since realtor.com began tracking the data in 2012.”

In response to these numbers, Danielle Hale, Chief Economist at realtor.com, said,

"Homebuyers took advantage of low mortgage rates and stable listing prices to drive sales higher at the end of 2019, further depleting the already limited inventory of homes for sale. With fewer homes coming up for sale, we've hit another new low of for sale-listings in January."

The decrease in inventory impacted every price range, too. Here’s a graph showing the data released by move.com:

Bottom Line
Since there’s a historic shortage of homes for sale, putting your home on the market today could drive an excellent price and give you additional negotiating leverage when selling your house. Let’s get together to determine if listing your house now is your best move.