This Month in Eugene and Springfield Real Estate May 2016
Good Monday Morning!
Both locally and nationally, the housing market continues to improve. Home sales continue to increase and home values are on the rise as well. Most of this demand is being fueled by mortgage interest rates that are at historic low levels. Home affordability is what dictates market activity and when home prices dropped significantly during the Great Recession, they met up with extremely low mortgage interest rates. As the economy began to recover, the housing market has led the way due to lower home values and low financing costs. The result of the robust housing market is now driving home prices upwards and as home prices increase, affordability diminishes. This is why for both home buyers and home sellers you want to take advatage of this current market. In the near future, mortgage rates are going to increase and this is going meet with higher home prices, which will effect home affordability even more. The result of this will of course will be less demand and we start the cycle all over again. At this time though, buyers should enjoy great mortgage interest rates and take advantage of them. Sellers should enjoy a market that has strong demand and increased home prices.
Have An Awesome Week!
THIS WEEKS HOT HOME LISTING!
3759 Westleigh St| Price: $185,000 | Beds: 4 | Baths: 2 | Sq Ft: 1645 |
AND HERE'S YOUR MONDAY MORNING COFFEE!!
Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-May-2016
At a recent Real Estate conference that I attended in Seattle, I was talking with some top agents and we were discussing the current national Real Estate market. It seems that just about every Real Estate market in the country is currently somewhat similar to the one we are experiencing in Eugene and Springfield. There is a low inventory of homes for sale and high demand. Many of us have been in the business for quite a few years and we all agreed that none of use have experienced a housing market like the one we have today. We also all agreed that this current market will be short lived.
3757 Westleigh St
