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Happy New Year 2019

by Galand Haas

Good Morning,

 

Video Link: http://eugeneoregonhomesforsale.com/video/Happy-New-Year-2019

 


THIS WEEK'S HOT HOME LISTING!

 825 SAND AVE

 Price: $535,000    Beds: 3    Baths: 2    Sq Ft: 2344

Grand very well-maintained home! Light filled vaulted open layout w/ large windows & skylights. Living rm w/ gas fireplace opens to dining area. Office/bonus rm w/ exterior entrance & Shoji sliding dr/rm divider. Massive kitchen w/ cook island, pant...View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Eugene & Springfield Inventory

by Galand Haas

Good Monday Morning!

Good news for homebuyers in the Eugene and Springfield area!! The inventory of homes on the market for sale has increased slightly and believe it or not, the housing market has become slightly less competitive. This also means that pricing has become somewhat softer in some price ranges and areas. If you have been searching for a home and gave up due to the fact that you could not find a home, you should take advantage of this market change. Here are the home sales statistics for the month of November 2018 in Eugene and Springfield.

November Residential Highlights

Lane County saw an uptick in new listings this November. At 393, new listings outpaced November 2017 (345) by 13.9%, despite cooling 16.2% from the 469 new listings also entered last month in October 2018. The last November with more new listings in Lane County was in 2007,when 467 new listings were o ered.

Pending sales, at 351, ended 4.1% cooler than in November 2017 (366)and 22.9% cooler than October 2018(455).

Closed sales, at 370, similarly cooled 6.1% from November 2017(394) and 12.1% from October 2018(421).

Inventory in Lane County showed a slight increase in November, ending at 2.2 months. Total market time rose to 52 days in the same period.

Year to Date Summary

Comparing the first eleven months of 2018 to 2017, closed sales (4,848) have increased 0.8% and new listings(6,155) have increased 0.2%. Pending sales (4,952) have decreased 0.3%.

Average and Median Sale Prices

Comparing 2018 to 2017 through November of each year, the average sale price has increased 7.1% from $288,300 to $308,800. In the same comparison, the median sale price rose 8.3% from $260,000 to $281,500.

Have An Awesome Week!


THIS WEEK'S HOT HOME LISTING!

825 SAND AVE

 Price: $535,000    Beds: 3    Baths: 2    Sq Ft: 2344

Grand very well-maintained home! Light filled vaulted open layout w/ large windows & skylights. Living rm w/ gas fireplace opens to dining area. Office/bonus rm w/ exterior entrance & Shoji sliding dr/rm divider. Massive kitchen w/ cook island, pant...View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Home Sales Soften

by Galand Haas

Good Monday Morning!

Home sales nationally have softened.  Maybe it is time for the Fed to revisit its policy of interest rate hikes.  The yield curve, which can predict recession has changed negatively and could be pointing towards tougher economic times.  It might be time for the Fed to halt interest rates hikes and abandon its agressive approach.  Could it be time for the Fed to even lower rates again?  Here is an article from Realtor.com that addresses the current national home sales slump.

Sales of previously owned U.S. homes posted their largest annual decline since 2014 in October, as the housing market continues to sputter due to higher mortgage rates that are reducing home affordability.

The latest data offered a mixed picture of a market that isn’t in free fall but also is far from robust. Existing-home sales edged up 1.4% in October from the previous month to a seasonally adjusted annual rate of 5.22 million, the National Association of Realtors said Wednesday. That broke a six-month streak when sales declined compared with a month earlier.

Sales, however, posted a sharp 5.1% drop compared with a year earlier, indicating the market is likely to end the year on a sluggish note.

Lawrence Yun, the trade group’s chief economist, said the annual decline signals softness in the housing sector that is likely to persist in the months to come.

“There is some feeling that the market could actually go even lower than what it is now in terms of sales,” Mr. Yun said.

When sales began slowing this spring, economists initially blamed a shortage of inventory, which has plagued the housing market throughout the recovery. But rising mortgage rates are playing a bigger role in slowing buyer demand than many economists had expected, shaking confidence that now is a good time to buy a home, according to recent surveys.

Mr. Yun said higher interest rates appear to be choking off buyer demand, and said the Federal Reserve should consider pausing its rate increases to give the housing sector time “to be on firmer ground.”

Mike Fratantoni, chief economist at the Mortgage Bankers Association, said recent declines in the stock market are also causing fresh unease. “The level of volatility in the stock market is reflecting a lot of uncertainty about where we are with the broader economy. There is a little bit of increased anxiety about how much things are going to slow,” he said.

The good news for buyers is that conditions are becoming friendlier to them, as mortgage rate and home-price increases slow and inventory of homes for sale is growing compared with last year.

The rate for a 30-year fixed rate mortgage averaged 4.81% this week, down from 4.94% a week earlier, according to data released by Freddie Mac on Wednesday. Rates are still up significantly from a year ago, when they averaged 3.92%.

The median sale price for an existing home in October was $255,400, up 3.8% from a year earlier. That shows a cooling from a year ago, when prices rose about 5.5%.

There was a 4.3-months’ supply of homes on the market at the end of October, based on the current sales pace, down from 4.4 months in September but up from 3.9 months a year ago.

Mr. Fratantoni said the combination of more muted price growth and a greater number of homes for sale could boost the housing market in the spring, especially if wages continue to rise.

Have An Awesome Week!


THIS WEEKS HOT HOME LISTING!

1849 Crescent Ave 

Price: $319,000   Beds: 3   Baths: 2  Sq Ft: 1344

Wonderful updates in this N. Gilham home! Great Rm layout, hickory cabinets, granite counters, engineered wood flr, recessed lights, stone gas fireplace, vinyl windows & French drs w/ built-in blinds. Kitchen w/ under-mount sink, island & eating bar. Master ste w/ slider. Laundry/mud rm. Fenced yard, shed, covered deck & patio, plus RV parking. Located in highly desirable area, on bus route & only 6 min drive to shops, schools & park.

View this property >> 



AND HERE'S YOUR MONDAY MORNING COFFEE!!

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Photo of Galand Haas Team  Real Estate
Galand Haas Team
Keller Williams Realty Eugene and Springfield
2644 Suzanne Way
Eugene OR 97408
Direct: (541) 349-2620
Fax: 541-687-6411

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