Home Sales Volume Related to Supply of Affordable Homes | Take Me Home | Bend | The Source Weekly - Bend, Oregon
Search
Settings
Pin It
Favorite

Home Sales Volume Related to Supply of Affordable Homes 

Inventory decline of affordable homes appears to be major factor in sales declines

click to enlarge PIXABAY
  • Pixabay

Looking at reports on national statistics relating to the recent home sales decline, I took another look at the inventory levels for September 2017 and compared the figures to September 2018.

Both last year and this year, Bend single family residences on 1 acre or less and priced under $400,000 had the highest number of sales, reflecting what locals could afford. A comparison of the number of listings available in that price range gave further light on the sales decline volume: In September 2017, for homes under $400,000, there were 193 active listings and 93 sales, whereas in September 2018, there were only 137 listings and 81 sales of homes in that price range.

It appears that the decline in inventory in the mid-price range is related to the decline in sales volume. The figures suggest there is good demand in this price range, but lack of supply. Homes in this price point are not being built to keep up with the demand because builders cannot afford to build in this price range with current costs of land, materials, increases in labor costs and city fees.


About The Author

Nick Nayne, Principal Broker

Principal Broker at The Broker Network Realty in Bend, OR. Over 12 years experience in Real Estate working with buyers, sellers and investment properties.
Pin It
Favorite

Comments

Subscribe to this thread:

Add a comment

Readers also liked…

Today | Fri | Sat | Sun | Mon | Tue | Wed
Park In Halloween Family Movie Night

Park In Halloween Family Movie Night - Sunriver Brewing Company

Fri., Oct. 23, 7 p.m.
Submitting an event is free and easy.

Newsletter Signup

Get Central Oregon daily news
directly in your inbox

Get Social


Latest in Take Me Home

Give Guide


View Online

More by Nick Nayne, Principal Broker

Want to advertise with us?

For info on print and digital advertising, >> Click Here

© 2020 LAY IT OUT INC | 704 NW GEORGIA AVE, BEND, OREGON 97703  |   Privacy Policy

Website powered by Foundation