Posts from June 21st, 2017
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Bend Oregon Real Estate | May 2015-2017 Inventory Trends
Inventory Levels of Bend Homes for Sale Remain Very Low
Ever since coming out of the recession, we have written about Bend's lack of housing. Before the recession, Bend was known as the sixth fastest growing city in the United States with a population over 50,000. During the housing boom of the mid 2000s, speculative building occurred all over the city, but we rarely discussed lack of inventory. People who wanted a home could purchase one, although many bought through easy credit which ended up facilitating the housing meltdown of the late 2000s. Once the crash happened, home values fell nearly to half of what they had been.
Bend is back. Home values have escalated to pre-recession prices and are now creeping higher. Bend is once again the 6th fastest growing city in the United States and its population now exceeds 90,000. However, building has not kept up with the demand. As the chart below shows, invento...