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Talks of Recession Surfacing with Government Shutdown

Talks of Recession Surfacing with Government Shutdown

Worries expressed about housing market
This past week, numerous headlines have emerged about prolonged government shutdowns leading to a recession. With the 2008 recession still fresh in everyone's mind, the word "recession" makes people think of another housing recession.

December Statistics Mix of Up and Down for Bend

Sales volume down over last year, median price up
According to December 2018 Central Oregon MLS statistics for Bend single family residences (excluding condos and manufactured homes) on 1 acre or less, the market cooled down again, with sales volume decreasing by about 16 percent from December 2017. The median sold price increased slightly from $433,143 in November 2018 to $438,632 for December 2018.

No Crystal Ball For 2019 Real Estate

The unseasonal market slowdown this summer gave me an eerie feeling similar to what I felt before the last recession, but it's a much different scenario than it was back then. Many buyers are speculating that prices will drop and that a correction is on the way.

Nomadic Shipping Container Hotel Rooms

Portable hotels can be set up in half a day
The French hotel group AccorHotels has developed a new type of accommodation that can be placed virtually anywhere. It's called the Flying Nest, made of six shipping containers stacked on top of each other and connected by a terraced walkway.

Freddie Mac's Report on Housing Shortages

Years of reduced construction still contribute to shortage
According to a Freddie Mac Research Report released Dec. 5, the current national housing shortage is about 2.5 million units. After calculating long-term demand, the report concludes that in order to make up for several years of building shortages, the housing market may need to supply more than 1.6 million units per year.

Local Real Estate Market Cools Down Again for November

Sales volume down over prior year and October 2018
According to November 2018 Central Oregon MLS statistics for Bend single family residences (excluding condos and manufactured homes) on 1 acre or less, the market cooled down again, with sales volume decreasing by 17 percent from November 2017. The median price increased slightly from $432,900 in October 2018 to $433,143 for November 2018.

2019 Forecast Predicts Tougher Market for Buyers and Sellers

Price growth expected to continue at moderate pace
According to a recent economic research release from Realtor.com, 2019 is expected to be more difficult for both buyers and sellers.

Affordable Housing Is An Issue, Even for D.C. Politicians

Many politicians can't afford housing in the nation's capital
The latest tales of the nationwide affordable housing crisis came from Washington, D.C., this week, when New York's Representative-elect Alexandria Ocasio-Cortez—the youngest woman ever elected to the U.S. House—announced that until her salary kicks in in January, she can't afford to rent an apartment.

Nearly Half of Homeowners Hit with Surprise Repairs

Unexpected repairs can be very costly
A recent survey of U.S. homeowners found that nearly half experienced unexpected home repair costs that created considerable anxiety.

Bend October Sales Show Increased Median Price and Sales Volume Over Prior Month

Price and sales volume increase after summer cool-off
Following an unexpected cooling-off period this summer, our local real estate market took an unexpected swing in the opposite direction for October.

Tiny Home Community

Rent-to-own stick-built tiny homes
Tiny homes have fascinated many people as a possible solution to the housing affordability crisis.

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