Deb Tebbs Group

Cascade Sotheby's International Realty

Bend Housing Market Improving

It’s no secret that the Bend, Oregon Real Estate market has struggled in the past few years, but things are beginning to turn around. One big indicator is the fact that the National Association of Homebuilders (NAHB) has just added Bend to its NAHB/First American Improving Markets Index for May 2012, a list which currently includes 100 metro areas in 34 states around the nation. The markets are added and removed from the list as their individual conditions change, and the NAHB publishes the list on a monthly basis. This is fantastic news for current and future home owners in Central Oregon.

In order to make the list, a housing market has to steadily improve in several key areas over the course of at least six months. These areas include gains in employment, increasing home prices, and single-family housing growth. The Bureau of Labor Statistics is used to determine employment, the U.S. Census Bureau data is used to determine single-family housing growth, and Freddie Mac is used to track housing prices.

Bend improved in all of these categories, which qualified it for the list. This is great news for residents and future home owners in Bend, as these are solid signs of an improving economy. More jobs and new construction benefits everyone. Since the market started its drop in July 2006, many have wondered if Central Oregon Real Estate would ever recover. It will be a long process, but news like this is a sure sign that things are getting better.

The key to the NAHB list is the fact that the market has to show measurable and sustained improvement, which is indicative of long-term growth and recovery.  This is most readily apparent because once a market is on the list it rarely gets taken off of it.  In the most recent list, 83% of the markets remained in the index. Besides the addition of Bend and a few other metro areas, and the removal of a few markets, this list has remained essentially unchanged over the last several months. This means recovery is happening not only in Bend Real Estate, but around the country.

So if you were thinking of making Bend your home, but were worried about the economic conditions, this should begin to relax some of those fears. There’s a lot of work to be done, but that work is beginning to pay off in the form of economic growth. An improving economy means a more livable Bend for everyone. More jobs mean more opportunities and new neighbors. New neighbors mean a more vibrant community, which has always been one of the best reasons to choose Bend, Oregon as your new home. And if you’re already a resident of Bend, increasing home values is always good news.

The Deb Tebbs Group has a wide variety of homes listed for any budget in Bend, or the surrounding areas including Sisters, Sunriver, and the golfing communities of Pronghorn and Tetherow. Contact us today and let us show you why Bend is still the premier Oregon destination!

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