Mark’s Market Update
The recent drop in interest rates to below 5% on a 30-year mortgage has brought some life back into the market. There is three times the amount of housing inventory available compared to one year ago. House appreciation is expected to increase an average of 10%, based on the forecast of seven key industry leaders (see chart below), through the rest of 2022. This presents an excellent opportunity for buyers that were priced out during the frequent bidding wars we’ve seen over the last 12-18 months. We are seeing and feeling a shift to a more normal Central Oregon housing market. This is great for both buyers and sellers. An increase in inventory, less buyer competition, and more options for sellers once they sell their home to trade up or downsize. Please reach out to our team if you’d like to discuss the current housing market or your next move.
Brooke and Mark celebrated 22 years of marriage last month, congrats to them! To mark the occasion, they took their daughters up for a day of fun in the sun at Sparks Lake. We are so lucky to get to live in this gorgeous place.
