There is increasing evidence that we are entering a shift in the housing market. With inventories of homes for sale rising each month, it is very likely that the market will become more favorable to homebuyers. If the Fed were to drop interest rates and mortgage rates declined as a result, I think the housing market would take off. Here is a recent article from the National Association of REALTORS (NAR) that explores the current housing market trend in more detail:

First-time buyers show signs of re-emerging as inventory climbs, but high prices and cautious sentiment keep sales subdued.

Sales of existing homes slowed last month, dimming hopes for a robust spring selling season. Despite the highest number of listings in years, buyers remain cautious.

The decline was slight: Existing-home sales—a measurement of completed transactions on single-family homes, townhomes, condos and co-ops—dropped by 0.5% in April compared to March. April sales were down 2% compared to a year ago, the National Association of REALTORS® reported Thursday.

“Home sales have been at 75% of normal or pre-pandemic activity for the past three years, even with 7 million jobs added to the economy,” says Lawrence Yun, NAR’s chief economist. “Pent-up housing demand continues to grow. Any meaningful decline in mortgage rates will help release this demand.”

One encouraging sign: First-time home buyers are beginning to reemerge. They accounted for 34% of existing-home sales last month—their highest share since July 2020, according to NAR.

It’s Still a Seller’s Market

Higher inventory and more housing choices may be pulling some buyers off the sidelines, but many may remain hesitant due to elevated home prices and mortgage rates. In April, the median existing-home price was $414,000, according to NAR. While prices are still rising, the pace has slowed, with a 1.8% year-over-year increase in April.

Home sellers continue to hold pricing power, but that could change. “At the macro level, we are still in a mild seller’s market,” Yun says. “But with the highest inventory levels in nearly five years, consumers are in a better situation to negotiate for better deals.”

Inventory Is Improving, But Not Out of the Woods

Housing inventory has improved significantly in recent months, rising 20.8% from a year ago, according to NAR. House hunters are finding more options, creating more competition among sellers.

However, according to a newly released NAR report, the uptick in housing inventories hasn’t been evenly distributed. In particular, the supply of affordable homes for low- and middle-income buyers remains well below demand. (Find out which price points may be struggling the most: Inventory Is Rising But Not Enough, a New NAR Report Warns.)

Buyers Should Still Expect Competition

House hunters shouldn’t be too excited by the prospect of a shifting market, however. In some markets, multiple offers and bidding wars remain common. Last month, 18% of homes sold above list price last month, and 60% of properties sold in under a month, according to the latest REALTORS® Confidence Index Survey, based on feedback from about 1,500 real estate professionals on their May transactions. On average, homes for sale received 2.4 offers. To gain an edge, 20% of buyers waived the inspection contingency and 20% of buyers also waived the appraisal contingency, the report notes.

All-cash buyers also continue to drive competition, making up 25% of transactions last month, according to NAR’s report.

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THIS WEEKS HOT HOME LISTING!

32225 Bush Garden Dr. Harrisburg, OR 97446

Price: $625,000    Beds: 3    Baths: 2.0    Sq Ft: 2000

Located in the coveted Bush Garden neighborhood, this mini ranch on nearly 3 acres will not disappoint. A cozy sunroom welcomes you to this spacious light-fill... View this property >> 

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There is some good news for homebuyers who have been struggling to find homes! The inventory of homes for sale across the country is beginning to increase. Any rise in home inventory is a welcome sight after years of extremely low supply. The biggest challenge we face—both nationally and locally—is home affordability. In some areas of the country, home values have decreased, but in places like Eugene and Springfield, prices continue to rise. Affordable homes for first-time buyers in Eugene and Springfield are almost non-existent. This presents a serious issue, as the gap between income growth and housing costs continues to widen. A continued increase in housing inventory may begin to put downward pressure on home prices due to growing competition. A healthy housing market needs that competition to help regulate pricing. An increase in the number of homes for sale, along with a decrease in mortgage interest rates, is urgently needed to improve housing affordability. The following is a recent article from the National Association of Realtors (NAR) that addresses these recent changes.

Home buyers are finally finding more options of homes for sale as housing inventory rebounds in many markets across the country—but supply is still largely falling short, according to the newly released report, “Housing Affordability and Supply,” produced by the National Association of REALTORS® and realtor.com®.

Rising inventory may even be masking a deepening crisis for lower-income buyers. As the report notes, “when viewed through the lens of income and purchasing power, it becomes clear that access to affordable homes remains out of reach for many buyers.”

The increase in overall listings—up nearly 20% compared to a year ago—is a hopeful sign for a housing market that has long been starved for inventory for a decade. It may also bring relief to some buyers, with price pressures beginning to ease in markets where inventory is rising most.

“Shoppers see more homes for sale today than one year ago, and encouragingly, many of these homes have been added at moderate income price points,” says Danielle Hale, realtor.com®’s chief economist. “But as this report shows, we still don’t have an abundance of homes that are affordable to low- and moderate-income households, and the progress that we’ve seen is not happening everywhere. It’s been concentrated in the Midwest and the South.”

Who’s Struggling the Most With Inventory Shortages?

Higher-income households—those earning $200,000 or more—have access to roughly 80% to 100% of for-sale listings nationwide (though not necessarily 80%–100% of the listings in their own market). For those earning less, affordability drops off sharply. According to the report, two main groups are facing the most severe inventory shortages:

• Lower-Income Buyers: Households earning under $50,000 per year and who are looking for homes priced below $170,000 have even fewer affordable options than they did a year ago, according to the report. As of this spring, buyers in this group could only afford 8.7% of active listings. A more balanced market would mean they could afford about one-third of listings, reflecting their share of U.S. households.
 
• Middle-Income Buyers: Buyers earning between $75,000 and $100,000 annually have seen the greatest improvements in the affordable housing supply when compared to all income groups. About 21% of listings are within reach for these households. But a gap still persists. Consider, in 2019, these middle-income buyers could afford nearly half of all listings, a level considered more balanced for the market. This suggests a shortage of more than 400,000 listings priced below $255,000, which would be affordable to this income group, according to the report. 

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THIS WEEKS HOT HOME LISTING!

1952 Minda Dr, Eugene, OR 

Price: $479,999    Beds: 3    Baths: 2.0    Sq Ft: 1353

Welcome to this beautifully maintained 3 bedroom, 2 bath home nestled within a quiet cul-de-sac in the desirable Ferry Street Bridge area. Inside you'll find great separation of space between the main living areas and bedrooms. Cozy up to the gas f... View this property >> 

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Is the Eugene and Springfield area at the beginning of a market shift?
Our area has been in a strong seller's market for years. A seller’s market is defined as a housing market with less than 6 months of inventory available. A very strong seller's market is where there are 3 months or less of home inventory.

Currently, we remain in a seller's market with only 2.9 months of active inventory. Things are beginning to change, though. The home inventory numbers are creeping up slowly, there seems to be less buyer interest, and price reductions are coming back.

All of this is taking place at a time of year when our local market typically begins to heat up. The fact that home prices continue to rise and mortgage interest rates have remained high is just another part of what we are seeing in the market today.

It's too early to say whether we are seeing a true market shift or not, but the next few months will tell the story.

Here are the home sales numbers for Lane County (Eugene, Springfield, and surrounding areas) for April 2025:

New Listings

New listings (556) increased 21.7% from the 457 listed in April 2024, and increased 35.3% from the 411 listed in March 2025.

Pending Sales

Pending sales (372) decreased 1.8% from the 379 offers accepted in April 2024, and decreased 2.4% from the 381 offers accepted in March 2025.

Closed Sales

Closed sales (295) increased 5.0% from the 281 closings in April 2024, and increased 17.1% from the 252 closings in March 2025.

Inventory and Time on Market

Inventory increased to 2.9 months in April. Total market time decreased to 54 days.

Year-to-Date Summary

Comparing the first four months of 2025 to the same period in 2024, new listings (1,661) increased 9.3%, pending sales (1,265) decreased 0.6%, and closed sales (1,044) increased 2.1%.

Average and Median Sale Prices

Comparing 2025 to 2024 through April, the average sale price has increased 1.0% from $466,000 to $470,800. In the same comparison, the median sale price has increased 0.7% from $431,500 to $434,500.

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THIS WEEKS HOT HOME LISTING!

2250 Turnberry Ct, Eugene, OR 97401

Price: $1,195,000    Beds: 5    Baths: 3.5    Sq Ft: 4053

Nestled in the highly desirable Oakway neighborhood of Eugene, Oregon, this beautifully updated single-family home offers the perfect blend of modern upgrades and timeless charm. Featuring... View this property >> 

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Mortgage interest rates have been on a roller coaster ride lately, and this may continue for a while. The good news is that rates have dipped slightly and remain lower than they were at this time last year. One observation I've made recently is that we're seeing very active web traffic on our home search website. This suggests a large number of potential buyers are browsing homes for sale. However, home sales remain sluggish. This likely indicates that while many people are interested in buying or selling, they don’t yet feel that now is the right time to make a move. That said, I don’t think it will take much to shift these would-be buyers into action. The most likely catalyst would be a further decline in mortgage rates—perhaps triggered by a Fed rate cut. Keep your fingers crossed!

The following article from the National Association of REALTORS® (NAR) provides an update on the current housing market and mortgage rates:

Although rates have fallen below their first quarter averages, buyers remain cautious.

Home buyers this spring are locking in lower mortgage rates than they could a year ago, when rates pushed above 7%. But even with the latest decline—bringing 30-year fixed rates to a 6.76% average—many prospective buyers aren’t ready to take action.

Purchase mortgage applications—a gauge of future buying activity—fell 4% last week compared to the previous week, the Mortgage Bankers Association reported April 30. For conventional loans, the decline was 6%.

“Mortgage application activity, particularly for home purchases, continues to be subdued by broader economic uncertainty,” says Joel Kan, MBA’s Vice President and Deputy Chief Economist.

Economists point to mortgage rate sensitivity as one culprit. But declining rates could build momentum and unlock some pent-up demand in the coming weeks.

On a positive note, pending home sales—reflecting recent contract signings—posted the largest month-to-month increase in March since December 2023, the National Association of REALTORS® reported on April 30. NAR Chief Economist Lawrence Yun credited the bump to a 20 to 30 basis-point dip in mortgage rates compared to the first two months of the year.

Buyers May Find More Negotiating Power

While mortgage rates continue to be elevated when observed within a five-year timespan, home buyers may find a different incentive to ease into the market: More inventory. “Home buyers have more negotiating power than they did over the last several years,” says Jessica Lautz, NAR’s deputy chief economist. Housing inventory in March was up nearly 20% compared to a year ago.

Further, “repeat buyers have reaped stacks of cash from housing equity, allowing for all-cash purchases and hefty down payments, offsetting higher rates,” Lautz says. All-cash buyers remain a force in the spring housing market, comprising 26% of existing-home sale transactions in March, according to NAR’s latest housing data.

Mortgage Rate Averages This Week

For home buyers who are focused on locking in a lower mortgage rate, borrowing costs have dropped slightly. “In recent weeks, rates for the 30-year fixed-rate mortgage have fallen even lower than the first quarter average,” says Sam Khater, Freddie Mac’s chief economist.

At this week’s 6.83% mortgage rate average, home buyers with a 20% down payment on a home priced at $400,000 would face a monthly mortgage payment of about $2,078, Lautz says. With a 10% down payment, the monthly mortgage payment would rise to $2,337.

Freddie Mac reports the following national averages with mortgage rates for the week ending May 1:

• 30-year fixed-rate mortgages: averaged 6.76%, dropping from last week’s 6.81% average. A year ago, rates averaged 7.22%.
• 15-year fixed-rate mortgages: averaged 5.92%, falling from last week’s 5.94% average. Last year at this time, rates averaged 6.47%.

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THIS WEEKS HOT HOME LISTING!

35 Almond Way, Creswell, OR 97426

Price: $424,000    Beds: 3    Baths: 2    Sq Ft: 1312

Wonderful home in private setting. This well-built, energy-efficient home in a quiet neighborhood features an open floo... View this property >> 

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What is really wrong with the Eugene area housing market? One of the largest issues Eugene faces with housing is both availability and affordability. The truth is that Eugene has a housing inventory issue that is creating major problems. The lack of available and affordable single-family building sites has reached a critical stage. In the past, large pieces of land within the urban growth boundary allowed hundreds of new homes to be built. This kept home prices down and provided buyers with many options. Those days are gone, as Eugene has completely run out of large areas for new subdivisions, leaving the housing market almost entirely dependent on the sale of existing homes. Don't expect this situation to change anytime soon. Eugene has not brought any new areas into the urban growth boundary for years, and to my knowledge, there are no immediate plans for boundary expansion. This leaves Eugene with a housing market that has little competition and low availability. Home affordability will continue to suffer as a result. For a healthy housing market, Eugene needs new single-family home developments. The following is an article from "NAR" that addresses this very issue.

Home buyer demand appears strong. So, why did existing-home sales falter last month?

Existing-home sales have lagged over the past two years, while new-home sales have surged—highlighting a key dynamic: Buyer demand remains strong when inventory is available.

The existing-home market continues to face a short supply of homes for sale, despite the latest progress of a 20% annual uptick in inventory. With just a 4 months’ supply of inventory, existing-home sales fell nearly 6% in March compared to February. Sales were down 2.4% from a year ago, the National Association of REALTORS® reported Thursday.

That may begin to shift,” says Lawrence Yun, NAR’s chief economist. “As time passes, life events—such as job changes, family transitions or financial needs—could prompt more homeowners to sell, even if it means giving up their low locked-in mortgage rates.”

As it stands now, about 44 million homeowners have a mortgage rate below 6%, according to an NAR analysis. That’s lower than the current 30-year fixed-rate mortgage, which has been averaging in the mid- to high 6% range. Buyers with financial wherewithal are bypassing mortgages altogether: All-cash buyers continue to make up a sizable share of the market, comprising 26% of existing-home sales transactions in March, according to NAR’s data.

Proof Buyers Are Still Out There

Even with last month’s slide in existing-home sales, buyers could still face some competition. Twenty-one percent of homes sold above list price in March, and 57% of real estate pros report that properties typically sold in just over a month, according to the March REALTORS® Confidence Index Survey, reflecting results from a survey of more than 1,500 real estate pros about their latest transactions. Homes listed received an average of 2.4 offers. What’s more, 22% of buyers waived the inspection contingency and 19% waived their appraisal contingency in competing in a home sale last month.

Home prices also are still climbing: The median existing-home sales price in March reached an all-time high of $403,700, NAR reports.

Contrasting housing prices with recent stock market declines, Yun says, “Household wealth in residential real estate continues to reach new heights. With mortgage delinquencies at near-historical lows, the housing market is on solid footing.”

Signaling further potential buyer interest, mortgage applications for home purchases are up 4.3% year-to-date. “Aside from inventory growth, lower mortgage rates will be needed to get homeowners to move,” Yun says. “A small deceleration in home price gains, which was slightly below wage-growth increases in March, would be a welcome improvement for affordability.”

Builders Capitalize on Demand but Face Headwinds

Meanwhile, homebuilders have plenty of inventory—and in some cases, lower mortgage rates—to meet some of that pent-up buyer demand. Sales of newly built homes climbed 7% in March compared to the previous month and are up 6% from a year ago, the U.S. Department of Housing and Urban Development and the U.S. Census Bureau reported on Wednesday.

“A wide inventory availability—at eight months’ supply—is helping newly constructed home sales to move forward,” Yun says. “The homebuilders’ focus on smaller-sized homes is also attracting buyers.” New home sales are up 33% year-to-date for homes priced below $300,000 and up by 28% year-to-date for new homes priced between $300,000 and $400,000, NAHB reports.

In March, the median price of newly constructed homes was $403,600, well-below the $435,000 price from three years ago when builders were more focused on larger-sized homes, Yun adds.

Builder incentives also could be drawing buyers in. About 30% of builders say they cut their home prices in April, with the average price reduction at 5%, according to the NAHB and Wells Fargo Housing Market Index. About 61% of builders say they also used sales incentives this month, like with mortgage rate buy downs or upgrades.

“The new home sales data shows that demand continues to be present in the market, provided affordability conditions permit a purchase,” says Buddy Hughes, NAHB’s chairman. “An increase in economic certainty would be a big boost to future sales conditions.” 

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Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

2181 Turning Oak Pl Eugene, OR 97408

Price: $808,000    Beds: 4    Baths: 3.0    Sq Ft: 2269

Welcome to one of the most sought-after neighborhoods off N. Gilham! This stunning home offers the perfect blend of comfort, style and quality. Thoughtfully designed with attention to every detail, it features light engineered hardwood floo... View this property >> 

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Mortgage interest rates went on a wild ride last week, fluctuating up and down several times. The good news is that rates ended the week on a downward trend. Much of this volatility is tied to the bond market, which also experienced significant swings. We are currently in the midst of an economic makeover—a necessary transition. What we’re seeing now is likely temporary, and the benefits of new economic policies should begin to take shape in the near future. One key event to watch is the ongoing tension between the White House and the Federal Reserve. The White House is pushing for rate cuts now that inflation appears to be under control, while the Fed is resisting. If the White House prevails and the Fed initiates a series of rate reductions, we could see immediate improvements in mortgage interest rates. The following is a recent article from "Realtor.com".

Mortgage rates jumped 20 basis points over the last week, but by the end of the week, rates were back below 7%. New tariff policies and stock market fluctuations prompted some economic turmoil last week. So, what should buyers be paying attention to as they contemplate applying for a mortgage?

“Economists are currently eyeing any potential changes in the bond market that would impact the mortgage market,” says Jessica Lautz, deputy chief economist at the National Association of REALTORS®. “China holds about $760 billion in U.S. bonds, raising eyebrows given the trade war. Japan is currently the largest holder of U.S. bonds.”

When bond prices fall, it can lead to higher mortgage rates.

Economic uncertainty “is likely to make at least some prospective buyers more hesitant to move forward with a purchase,” says Mike Fratantoni, senior vice president and chief economist at the Mortgage Bankers Association. Reflecting that, mortgage applications for home purchases—a gauge of future home buying activity—fell 5% last week. But MBA’s index notes: Loan applications for home purchases are still 13% higher compared to the same week a year ago.

Some Buyers Quickly Spring Back In

Considering mortgage applications for home purchases are posting double-digit percentage annual increases, “it’s a clear sign that this year’s spring home buying season is off to a stronger start” than last year, says Sam Khater, Freddie Mac’s chief economist.

“The 30-year fixed settled some from the bounce-house activity in the week prior,” and housing inventory is on the rise, says Lautz. NAR’s data shows that unsold inventory is up by double digit percentages compared to a year ago, offering prospective home buyers more choices of homes for-sale than they’ve had in years. “Spring buyers are in a better position with more inventory in many markets,” Lautz says. So “while some are cautious in the face of uncertainty, others will jump at better opportunities.”

To offset higher rates last week, more prospective home buyers reached for the ARMs—adjustable-rate mortgages. The share of ARM applications was up a full percentage point in just one week, MBA reported. ARMs offer an initial fixed rate—lately closer to 6%, lower than 30-year fixed rate average—before adjusting to current rates in five or seven years. Given the jump in rates last week, “more borrowers are opting for the lower initial [payments] that come with an ARM,” Fratantoni says. The ARM share of mortgage applications reached about 10%, the highest since November 2023. “On a dollar basis, almost a quarter of the application volume last week was for ARMs, as borrowers with larger loans are even more likely to opt for an ARM,” he adds.

A Close Watch on Mortgage Rates

At this week’s 30-year average of 6.83%, home buyers would likely have a monthly mortgage payment of $2,093 for a home priced at $400,000, assuming a 20% down payment, Lautz says. With a 10% down payment, the typical monthly payment would be $2,354.

Freddie Mac reports the following mortgage rate averages for the week ending April 17:

• 30-year fixed-rate mortgages: averaged 6.83%, rising from last week’s 6.62% average. A year ago, 30-year rates averaged 7.1%.
• 15-year fixed-rate mortgages: averaged 6.03%, up from last week’s 5.82% average. Last year at this time, 15-year rates averaged 6.39%.

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

32568 Deberry Rd, Creswell, OR 

Price: $2,670,000    Beds: 4    Baths: 3.0    Sq Ft: 5433

Welcome to one of Lane County's finest estate homes! Every detail of this exquisite residence has been thoughtfully crafted to create an unparalleled living experience. Bathed in natural light, this unique home boasts soaring ceilings and premium ma... View this property >> 

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As our homes get older and the styles and colors of the original build begin to feel dated, many of us start dreaming about what a facelift could do for our space. Remodeling your home may be one of the most expensive ventures you ever take on. Material and labor costs have risen significantly over time, and depending on the extent of the remodel, expenses could reach into the hundreds of thousands of dollars. If you are considering selling your home—whether soon or sometime down the road—keep in mind that dated homes typically sell for less and are more difficult to sell than updated ones. If this sounds like your situation, proceed with caution. It’s easy to spend more on a remodel than you’ll gain from the sale. Keeping your remodel focused on increasing value and putting more money in your pocket at the time of sale should be the goal. The following article from NAR (National Association of Realtors) offers helpful ideas and guidelines if you're remodeling with the intent to sell.

A new NAR report reveals which projects homeowners may want to prioritize if they plan to sell within the next year or two.

The home remodeling boom continues, as homeowners leverage their equity to take on a range of house projects, large and small. But are they choosing the best projects to help boost their home’s resale value?  

A fancy kitchen upgrade or bathroom renovation may have a significant impact on potential buyers. But for projects that recoup most or all of their cost, owners should think smaller, according to the newly released 2025 Remodeling Impact Report, conducted by the National Association of REALTORS® and the National Association of the Remodeling Industry. Swapping out the front door for steel, for example, is likely to get the most bang for the buck.

Prioritizing Home Remodeling Projects

Being able to help sellers prioritize home improvements and maximize their net on the sale is a key value real estate agents offer. For a range of home improvement projects, the Remodeling Impact Report compares estimated cost (estimates are from a NARI member survey) with real estate professionals’ estimates of the likely dollar value at resale.

The report revealed the following home remodeling projects may offer the highest returns, based on their estimated cost recovery at resale:  

• New steel front door: 100% (estimated return based on upfront cost)
• Closet renovation: 83%
• New fiberglass front door: 80%
• New vinyl windows: 74%
• New wood windows: 71%
• Basement conversion to living area: 71%
• Attic conversion to living area: 67%
• Complete kitchen renovation: 60%
• Minor kitchen upgrade: 60%
• Bathroom addition: 56%
• New primary suite: 54%
• bathroom renovation 52% 

A Balancing Act

Because owners often plan to stay in the home and enjoy the improvements for a few years before selling, the report also assigns a “joy score” to each project. The score is derived from a survey of homeowners conducted by NAR’s consumer website HouseLogic.

“Homeowners undertake remodeling projects for numerous reasons, but what remains intriguing is the disparity between the joy experienced post-remodel and the actual cost recovery,” says Jessica Lautz, NAR’s deputy chief economist. “While homeowners take pride in seeing their personal tastes and design choices come to life, [real estate professionals who are] REALTORS® may recommend different strategies to enhance the property’s resale value.”

Americans spent an estimated $603 billion last year on remodeling their homes, according to the report. With the average home of the U.S. now older than 40 years old, home remodeling may be growing more important as homeowners try to ensure their home ages well—with its value, too.

Consumers surveyed for the report said their top motivations for undergoing a home remodel were:

• To upgrade the home’s worn-out surface finishes and materials (27%)
• To improve energy efficiency (19%)
• A desire for a change (18%), or
• Because they plan to sell their home within the next two years (18%).

Because every home and every neighborhood are different, a presale project that’s right for one home won’t benefit another. But for those who do plan to sell within the next couple of years, the Remodeling Impact Report offers agents a starting point for a discussion.

How Real Estate Pros Are Helping

Forty-three percent of homeowners say home remodeling, repairs and maintenance stresses them out, according to Angi’s State of Home Spending report.  

Real estate pros are finding themselves an important ally in helping to guide remodeling decisions to help ease some of that stress. Clients turn to them for reputable contractors, as well as for guidance in prioritizing remodeling decisions.

“A real estate professional absolutely can help clients with remodeling,” says Angie Hicks, co-founder of the home services site Angi, formerly known as Angie’s List. “I always like to say, ‘You want to keep up with the Joneses, but you don’t want to beat the Joneses.’ If you have three bathrooms when everyone else has two, you won’t be getting the return on that. In thinking of the resale on your house, a real estate agent is going to be a great person to talk to.”

According to NAR’s Remodeling Impact Report, the top agent-recommended projects were painting—either the entire home or at least one room—as well as installing a new roof, if necessary, to make a home more marketable.

Real estate professionals also reported that over the last two years they’ve noticed an uptick in the number of homeowners who’ve had an increased desire to tackle kitchen upgrades, install a new roof or complete a bathroom renovation, the Remodeling Impact Report finds. These can be key areas in a home for buyers, as well as among the most expensive house projects. Nearly half—or 46%—of home buyers say they’re less willing to compromise on the condition of the home they purchase. As such, homeowners prioritizing such projects may help make their properties more move-in ready to home buyers and justify recent home price growth.

Homeowners who don’t intend to sell soon may be motivated by recent home appreciation to undertake house projects. “The substantial housing equity that homeowners have built up over time enables them to invest in transforming their homes,” Lautz says.

“This report demonstrates that demand for remodeling remains robust,” as remodeling contractors continue to report an uptick in projects as well as larger scope projects over the last two years, says Jason Hensler, president of NARI. “Homeowners are discovering significant value and joy in these investments—from smaller upgrades, such as front doors and windows, to major renovations like kitchens and primary suites,” he says.

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

4342 Cloudview Dr S, Salem, OR 

Price: $599,900    Beds: 4    Baths: 2.5    Sq Ft: 2105

This beautifully maintained two-story home blends comfort, function, and charm in one of South Salem’s most desirable neighborhoods. With a spacious floor plan featuring four bedrooms and two and a half bathrooms, it offers a thoughtful layout... View this property >> 

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Real estate markets have historically been a roller coaster, shifting from strong, active home sales to sluggish and challenging conditions. Rarely do we see rapid changes in the real estate market. Recovery from slow markets can be painfully gradual, often marked by ups and downs, but with an overall upward trend. This is exactly the kind of market we find ourselves in today. The days of 2.5% and 3% mortgage interest rates are gone—and most likely won’t return anytime soon, if ever. As we all adjust to the new norm of higher mortgage interest rates, we can expect more ups and downs. However, the overall market is expected to trend upward as the economy adapts to these new rates. As our economy improves over the next several years, we can look forward to a robust housing market returning, with interest rates that may resemble what we’re seeing today. The following is an update from the National Association of Realtors (NAR) on how our current housing market is responding to recent mortgage rate trends.

Over the last month, mortgage rates have seen only slight moves, but that could be enough to give prospective buyers the confidence to make a move.

The signs of a livelier market may be starting to pop up. The number of mortgage applications for purchase rose last week to its highest level since the end of January—and the number has climbed from levels a year ago, according to the Mortgage Bankers Association’s seasonally adjusted index.

Less volatility in mortgage rates—which have settled in the mid-6% range—may be helping home buyers feel more comfortable planning ahead for a purchase. “Over the last month, the 30-year fixed-rate has settled in, making only slight moves in either direction,” says Sam Khater, Freddie Mac’s chief economist. “This stability is reassuring, and borrowers have responded with purchase application demand rising to the highest growth rate since late last year.”

Mortgage applications for a home purchase—a gauge of future home buying activity—ticked up by 2% in the latest week and are up by 9% compared to a year ago, according to the MBA.

“Overall purchase activity has shown year-over-year growth for more than two months as the inventory of existing homes for sale continues to increase, a positive development for the housing market despite the uncertain near-term outlook,” says Joel Kan, MBA’s deputy chief economist.

Mortgage Rate Averages This Week

Freddie Mac reports the following national average mortgage rates for the week ending April 3:

• 30-year fixed-rate mortgages: averaged 6.64% this week, falling slightly from last week’s 6.65% average. A year ago, 30-year rates averaged 6.82%.

15-year fixed-rate mortgages: averaged 5.82%, dropping from last week’s 5.89% average. Last year at this time, 15-year rates averaged 6.06%.

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THIS WEEKS HOT HOME LISTING!

91760 Horse Creek Rd, McKenzie Bridge, OR 

Price: $529,000    Beds: 2    Baths: 2.0    Sq Ft: 1540

Nestled within an ideal location on the McKenzie River and on just under a half-acre, this home is a rare find. Many exciting updates have been made throughout including a new roof, septic system, a refreshed guest bathroom, interior paint, and quar... View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

It seems that maybe we are entering into a trend of improving home sales. The inventory of homes for sale also seems to be improving. The increase in the number of homes for sale could help keep the increase of home prices in check. If home inventories continue their upward trend, and at the same time mortgage interest rates continue to decline, the result should be an improving housing market nationwide. Efforts to control inflation could also begin to take effect, and this may also put more money in homebuyers' pockets. Look for a slow but steadily improving housing market over the next six months. The following is an article from "NAR".

Home sales are down from a year ago, but moderately lower mortgage rates this year could accelerate the market, says NAR Chief Economist Lawrence Yun.

The real estate market thawed in February after home sales froze during a frigid January. Contract signings, a gauge of future homebuying activity, jumped 2%last month, the National Association of REALTORS® reported Thursday. That follows an NAR report last week showing a 4.2% gain in existing-home sales in February.

The South, which bore the brunt of lower pending home sales in January, saw the strongest hike in February at 6.2%. Contract signings rose a modest 0.7% in the Midwest but fell 3% in the West and 0.9% in the Northeast.

Market dynamics are still regaining their footing, says NAR Chief Economist Lawrence Yun. “Despite the modest monthly increase, contract signings remain well below normal historical levels,” he says. “A meaningful decline in mortgage rates would help both demand and supply—demand by boosting affordability, and supply by lessening the power of the mortgage rate lock-in effect.”

NAR projects mortgage rates to fall moderately this year, averaging 6.4% in 2025 and 6.1% in 2026, as the Federal Reserve forecasts slower economic growth. “The current high national debt will prevent mortgage rates from falling drastically—and certainly not to the 4%-to-5% range seen during President Donald Trump’s first term,” Yun says.

If that’s not enough to get your clients off the sidelines, try talking about soaring home equity. Yun said at NAR’s Real Estate Forecast Summit last week that sharing with clients the disparity in median net worth between homeowners and renters—$400,000 versus $10,000, respectively, according to NAR data—can be a strong motivator.

Inventory also is rising, which is another motivating factor for home buyers. NAR predicts existing-home sales will rise 6% in 2025 and 11% in 2026. And the new-home market continues to offer robust inventory—and savings in the form of builder incentives; NAR predicts new-home sales will rise 10% in 2025 and 5% in 2026. The association expects the national median home price to increase 3% in 2025 and 4% in 2026.

Home price growth will moderate due to more supply coming onto the market,” Yun says.

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THIS WEEKS HOT HOME LISTING!

290 Brookside Dr, Eugene, OR 

Price: $529,900    Beds: 4    Baths: 3.0    Sq Ft: 2085

Spacious light filled home on almost 1/4 acre in desirable South Eugene location! Beautifully updated with new paint and LVP throughout. Large Trex deck, perfect for entertaining, overlooking trees, yard and wildlife. Neighborhood is near Ridgeline... View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

One of the largest obstacles that home buyers have dealt with for several years is the lack of inventory of homes for sale. A typical healthy home sales market for both home buyers and sellers will have from 5 to 6 months of home inventory. We have not had anything close to that kind of inventory both locally and nationally for many years. A recent bright spot in both the local and national housing markets is that the inventory of homes has started to increase. The current inventory of homes for sale in Lane County now stands at 3.1 months, and this is the highest home inventory we have seen in over a year. Part of the issue with our local inventory is the lack of new homes on the market. A decade ago, Eugene alone would see the number of building permits issued be near a thousand per year. Last year it stood at just over 100 new home building permits. This level of new home construction cripples any housing market. Even without many new homes, our local home inventory could continue to climb. We can only hope that the recent trend continues. The following is a recent article from NAR that talks about the recent increase in homes for sale on a national scale.

As the spring thaw sets in, new housing momentum is “flashing encouraging signs” for the market, says NAR Chief Economist Lawrence Yun.

A notable uptick in housing inventory nationwide may be pulling the real estate market out of a long winter hibernation.

Total existing-home sales, which account for completed transactions for single-family homes, townhomes, condos and co-ops, rose 4.2% month over month in February, the National Association of REALTORS® reported Thursday.

“Home buyers are slowly entering the market,” even as mortgage rates and home prices appear frozen at elevated levels, says NAR Chief Economist Lawrence Yun. “More inventory and choices are releasing pent-up housing demand.” 

Existing-home inventory climbed 5.1% month over month in February and is up 17% from a year ago, NAR reports. Also adding to the housing supply, single-family construction rose 11.4% last month, reaching the highest pace in a year, the Commerce Department reports.

It was a frigid winter for the U.S., which helped soften foot traffic among home buyers. But as the spring thaw begins, “the momentum for home sales is flashing encouraging signs,” Yun adds.

Home Prices Remain Strong

The median price for an existing home increased 3.8% to $398,400 in February, NAR data shows. All four major regions of the U.S. recorded price gains last month, led by a 10.4% annual increase in the Northeast.

“Each one percentage point gain in home price translates into an approximately $350 billion increase in housing equity for American property owners,” Yun says. “That means a gain of nearly $1.3 trillion in home value appreciation at a time when the stock market is undergoing a correction.”

He adds that the recent uptick in inventory shouldn’t dampen home prices. “The ongoing housing shortage, coupled with historically low mortgage default rates, implies a solid foundation for home values,” Yun says.

Some home sellers may be leveraging their equity in the next home purchase. Cash sales comprised about a third of home sales in February, continuing to command a historically high share of the market. Individual investors and second-home buyers comprise a sizable portion of cash sales, purchasing 16% of homes in February, which is down from 21% a year ago, NAR reports.

Housing Affordability Headwinds Continue

With high home prices and mortgage rates in the mid-6% range, home buyers may need to dig deeper in their pockets to complete a home purchase. Despite affordability challenges, first-time home buyers comprised 31% of existing-home sales in February, up from 24% a year earlier, according to NAR. As housing inventory rises, so is the share of first-time home buyers.

Overall, buyer demand remains strong despite cost pressure. Twenty-one percent of homes sold above list price last month, according to the REALTORS® Confidence Index, which is based on NAR members’ most recent transactions. The average home on the market received 2.3 offers in February, and about 50% of agents say their listings sold in less than a month.

For buyers facing budget concerns, home builders are offering incentives to compete: Nearly 60% of builders in March used sales incentives, such as covering closing costs, design credits or mortgage-rate buydowns, the National Association of Home Builders reports. Also, 29% of builders cut their prices in March, with an average 5% price reduction.  

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THIS WEEKS HOT HOME LISTING!

2250 Turnberry Ct, Eugene, OR 

Price: $1,250,000    Beds: 5    Baths: 3.5    Sq Ft: 4053

Nestled in the highly desirable Oakway neighborhood of Eugene, Oregon, this beautifully updated single-family home offers the perfect blend of modern upgrades and timeless charm. Featuring an open floor plan with abundant natural light from expansiv... View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Yes, mortgage loan rates have declined a bit, and it looks as if this is making a difference in the number of would-be home buyers jumping into the market. With rates in the mid-6% range, buyer interest is certainly picking up. We may be looking at some further rate decreases, but at this time my guess is that rates will remain near the current level for most of 2025. Here is a recent article from "NAR" that talks about the current market and mortgage rate changes.

Loan applications are on the rise as mortgage rates settle into the mid-6% range.

Mortgage rates are settling near the mid-6% range, tempting prospective home buyers, who are applying for mortgages in greater numbers.

Mortgage applications to purchase a home—a gauge of future homebuying activity—rose 7% in the latest week and are 4% higher than a year ago, the Mortgage Bankers Association reports.  

“Mortgage applications continue to rise as buyers capitalize on lower rates and increased [housing] inventory,” says Jessica Lautz, deputy chief economist at the National Association of REALTORS®. “The days on market have lengthened, allowing buyers to view homes and submit competitive offers. Inflation has also decreased this week, possibly making it a bit easier to save for a home.”  

Still, housing inventory remains tight, which means buyers are facing competition for properties. Bidding wars are still present, and the typical home seller received an average of 2.6 offers on their home last month, according to the REALTORS® Confidence Index.  

Greater Loan Options, Bigger Loans

Mortgage application activity for home purchases was up across all loan categories last week, says MBA Chief Economist Joel Kan. Government purchase applications posted an 11% increase, which Kan says was helped by the FHA loan rate dropping to 6.34%.  

But amid higher home prices, average loan sizes are climbing to new highs. The average purchase loan amount rose to $460,800—the highest ever recorded, according to MBA data.  

The 30-year fixed-rate mortgage averaged 6.65% this week, Freddie Mac reports. “Mortgage rates continue to be relatively low versus the last few months, and home buyers have responded,” says Sam Khater, Freddie Mac’s chief economist. “The combination of modestly lower mortgage rates and improving inventory is a positive sign for home buyers in this critical spring homebuying season.”

At this week’s average rate, the monthly mortgage payment would translate to $2,054 for a home priced at $400,000, assuming a 20% down payment, Lautz says. With a 10% down payment, the typical payment would be $2,311 per month.  

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THIS WEEKS HOT HOME LISTING!

32568 Deberry Rd, Creswell, OR 

Price: $2,670,000    Beds: 4    Baths: 3.0    Sq Ft: 5433

Welcome to one of Lane County's finest estate homes! Every detail of this exquisite residence has been thoughtfully crafted to create an unparalleled living experience. Bathed in natural light, this unique home boasts soaring ceilings and premium ma... View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

February saw what I would call a bit of a setback with home sales in the Eugene and Springfield area. All sales categories were down from February of 2024. This includes pending home sales. Pending home sales indicate current market conditions and also reflect on where home sales will be in the next month. When we see pending sales decline, it is a true indication of the current direction of both the current and coming home market. It would appear that the housing market in Eugene and Springfield may continue to be sluggish, and any recovery could remain months away. Here are the numbers for February 2024 home sales in Lane County.

New Listings

New listings (324) decreased 9.0% from the 356 listed in February 2024, and decreased 4.7% from the 340 listed in January 2025.

Pending Sales

Pending sales (286) decreased 14.6% from the 335 offers accepted in February 2024, and increased 0.7% from the 284 offers accepted in January 2025.

Closed Sales

Closed sales (221) decreased 7.1% from the 238 closings in February 2024, and decreased 4.7% from the 232 closings in January 2025.

Inventory and Time on Market

Inventory increased to 3.1 months in February. Total market time decreased to 68 days.

Year-to-Date Summary

Comparing the first two months of 2025 to the same period in 2024, new listings (668) increased 4.4%, pending sales (554) decreased 5.3%, and closed sales (457) increased 9.1%.

Average and Median Sale Prices

Comparing 2025 to 2024 through February, the average sale price has increased 0.9% from $466,100 to $470,400. In the same comparison, the median sale price has decreased 1.2% from $425,000 to $420,000.

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Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

2250 Turnberry Ct, Eugene, OR 

Price: $1,250,000    Beds: 5    Baths: 3.5    Sq Ft: 4053

Nestled in the highly desirable Oakway neighborhood of Eugene, Oregon, this beautifully updated single-family home offers the perfect blend of modern upgrades and timeless charm. Featuring an open floor plan with abundant natural light from expansiv... View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sales of previously owned homes slowed down in January amid higher mortgage rates, setting a disappointing tone for the start of the new year.

Existing-home sales dropped 4.9% last month from December, to a seasonally adjusted annual rate of 4.08 million, the National Association of Realtors® reported Friday. However, the January sales figure was up 2% from the same month a year earlier.

Home prices continued to rise on an annual basis, with the median sales price for all existing housing types at $396,900 in January, up 4.8% from one year ago.

Sales of previously owned homes slowed down in January amid higher mortgage rates, setting a disappointing tone for the start of the new year.

Existing-home sales dropped 4.9% last month from December, to a seasonally adjusted annual rate of 4.08 million, the National Association of Realtors® reported Friday. However, the January sales figure was up 2% from the same month a year earlier.

Home prices continued to rise on an annual basis, with the median sales price for all existing housing types at $396,900 in January, up 4.8% from one year ago.

Supply of homes for sale rises as spring approaches

The supply of previously owned homes for sale rose last month, sending a potentially friendly signal to buyers as the spring selling season approaches.

Total housing inventory for sale was 1.18 million units at the end of January, up 3.5% from December and 16.8% higher than one year ago. 

Unsold inventory sits at a 3.5-month supply at the current sales pace, up from 3.2 months in December and 3.0 months a year earlier.

“More housing supply allows strongly qualified buyers to enter the market,” Yun says. “But for many consumers, both increased inventory and lower mortgage rates are necessary for them to purchase a different home or become first-time homeowners.”

Sales remain flat in Midwest, fall elsewhere

In January, existing home sales were unchanged from December at an annual rate of 1 million, up 5.3% from the previous year. The median home price in the Midwest was $290,400, up 7.2% from January 2024.

Sales fell in the other regions on a monthly basis, led by the West, where they slumped 7.4% in January to an annual rate of 750,000, up 1.4% from a year ago. The median price in the West was $614,200, up 7.4% from January 2024.

In the South, sales fell 6.2% from December to an annual rate of 1.83 million in January, identical to one year earlier. The median price in the South was $356,300, up 3.5% from last year.

In the Northeast, existing-home sales dropped 5.7% from December to 500,000 annualized, up 4.2% from January 2024. The median price in the Northeast was $475,400, up 9.5% from one year earlier.

Sales of previously owned homes slowed down in January amid higher mortgage rates, setting a disappointing tone for the start of the new year.

Existing-home sales dropped 4.9% last month from December, to a seasonally adjusted annual rate of 4.08 million, the National Association of Realtors® reported Friday. However, the January sales figure was up 2% from the same month a year earlier.

Home prices continued to rise on an annual basis, with the median sales price for all existing housing types at $396,900 in January, up 4.8% from one year ago.

Sales of previously owned homes slowed down in January amid higher mortgage rates, setting a disappointing tone for the start of the new year.

Existing-home sales dropped 4.9% last month from December, to a seasonally adjusted annual rate of 4.08 million, the National Association of Realtors® reported Friday. However, the January sales figure was up 2% from the same month a year earlier.

Home prices continued to rise on an annual basis, with the median sales price for all existing housing types at $396,900 in January, up 4.8% from one year ago.

Supply of homes for sale rises as spring approaches

The supply of previously owned homes for sale rose last month, sending a potentially friendly signal to buyers as the spring selling season approaches.

Total housing inventory for sale was 1.18 million units at the end of January, up 3.5% from December and 16.8% higher than one year ago. 

Unsold inventory sits at a 3.5-month supply at the current sales pace, up from 3.2 months in December and 3.0 months a year earlier.

“More housing supply allows strongly qualified buyers to enter the market,” Yun says. “But for many consumers, both increased inventory and lower mortgage rates are necessary for them to purchase a different home or become first-time homeowners.”

Sales remain flat in Midwest, fall elsewhere

In January, existing home sales were unchanged from December at an annual rate of 1 million, up 5.3% from the previous year. The median home price in the Midwest was $290,400, up 7.2% from January 2024.

Sales fell in the other regions on a monthly basis, led by the West, where they slumped 7.4% in January to an annual rate of 750,000, up 1.4% from a year ago. The median price in the West was $614,200, up 7.4% from January 2024.

In the South, sales fell 6.2% from December to an annual rate of 1.83 million in January, identical to one year earlier. The median price in the South was $356,300, up 3.5% from last year.

In the Northeast, existing-home sales dropped 5.7% from December to 500,000 annualized, up 4.2% from January 2024. The median price in the Northeast was $475,400, up 9.5% from one year earlier.

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

2250 Turnberry Ct, Eugene, OR 

Price: $1,250,000    Beds: 5    Baths: 3.5    Sq Ft: 4053

Nestled in the highly desirable Oakway neighborhood of Eugene, Oregon, this beautifully updated single-family home offers the perfect blend of modern upgrades and timeless charm. Featuring an open floor plan with abundant natural light from expansiv... View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

The Real Estate market has certainly changed since the days of 2.5% mortgage interest rates and multiple offers within hours of a home hitting the market for sale. We are now back to what I would call a more normal market. With this new market we find ourselves in, homeowners who wish to sell their homes need to be much more aggressive with their approach to selling if they want to sell their home in the shortest number of days and for top market value. The following is an article I ran across in US News that will give anyone who is considering the sale of their home some excellent advice on how to achieve a successful sale and maximize the amount of money they make on that sale.

If you want to sell your home fast and for the right price, avoid these pitfalls.

Be sure to learn about the tried-and-true practices before selling your house.

Key Takeaways 

• The housing market is cooling in many areas of the country, and it could take weeks or months to sell a home.

• Using a real estate agent can ensure that your home is priced and marketed appropriately.

• Homeowners should declutter and remove personal items from a home so potential buyers can better envision themselves living there.

• Selling a home is a business deal, and homeowners should avoid becoming emotional during the process.

After years of bidding wars and surging prices, the U.S. housing market seems to be cooling. As of the end of January 2025, homes were selling at their slowest pace in five years, according to real estate brokerage firm Redfin. The company notes that it takes the typical home almost two months to go under contract now.

If you are selling a house, the process can become more difficult if you ignore the tried-and-true practices that have helped home sellers in the past.

That includes pricing the home correctly and having it properly prepared to go on the market, says Molly Gallagher, real estate agent and partner of the Falk Ruvin Gallagher Team, part of real estate brokerage Keller Williams Milwaukee North Shore in Wisconsin.

Be sure to learn about the tried-and-true practices before selling your house.

Here are 12 home selling mistakes to avoid:

1. Working alone

2. Waiting to sell

3. Pricing too high

4. Selling as-is

5. Keeping clutter

6. Not depersonalizing

7. Skipping major repairs

8. Cutting costs on photography

9. Hiding problems

10. Being unavailable

11. Being unwilling to negotiate

12. Letting your emotions get the best of you

1. Working Alone

Selling a house yourself may seem like an easy way to avoid paying commissions, but you'll miss out on a real estate agent's market knowledge, contacts, and help with the process. Unless you have a real estate license or are planning to find an iBuyer, a real estate agent is key to a successful – and less stressful – home sale. For-sale-by-owner properties tend to sell for a lower price overall. According to the National Association of Realtors' 2024 Profile of Home Buyers and Sellers, FSBO homes sold at a median price of $380,000 compared to a median sale price of $435,000 for properties that sold with the assistance of an agent. If you're looking to sell your home for its full market value, professional insight is more likely to get you there.

2. Waiting to Sell

Spring and early fall are often hailed as the best times to sell a house, but that doesn't mean you should wait months to put your home on the market. While December and August see the fewest sales, homes still sell every month of the year, says Anne DuBray, a real estate broker with Coldwell Banker Realty in Glenview, Illinois. In fact, February is the best month to put your property on the market, DuBray says – even in places that see long, cold winters like Chicago and Milwaukee. "People are less distracted in that month than every other month of the year," according to DuBray.

3. Pricing Too High

You want to sell your house for top dollar, but be realistic about the value of the property and how buyers will see it. If you've overpriced your home, chances are you'll eventually need to lower the number, but the peak period of activity that a new listing experiences is already gone. "Time will kill you," DuBray says. "You still think you're going to get showings and showings (as time goes on), and you just don't." For that reason, it's important that your real estate agent be honest with you about what your home will sell for, based on the recent sales of similar homes in the area.

4. Selling As-Is

Unless you're planning to sell your house to an investor who will flip the property, selling your house "as is" won't yield the highest possible sale price. Today's homebuyers expect move-in ready conditions and want to see a blank slate that allows them to picture themselves living in the home. That means you'll need to update appliances, paint walls neutral colors such as gray or khaki, and remove old carpeting.

5. Keeping Clutter

It's tough to remove belongings while you're still living in your house, but presenting each room and space in its best light means you'll need to declutter in more ways than one. Get rid of items you don't need anymore, but also remove oversized couches and other large furniture that dwarfs the room. Also clear out closets so they don't look overcrowded and put away decor that displays too much personal detail. "Just because you see any empty surface doesn't mean you have to have something there. Give the eyes a moment to rest," wrote Jessica Harris, an interior designer and manager of production design at furniture retailer Living Spaces, based in Southern California, in an email.

6. Not Depersonalizing

While removing personal decor choices is part of decluttering, it's also important to neutralize your house so the buyer doesn't immediately think of the people who currently live in it. "Remember to remove personal photos, memorable items, and more from the home," Harris says. "You want the potential buyers to envision it's their home, not yours. If it's something you question, go with your gut. Think simple, clean, and refreshing." That goes for your personal design tastes as well. Busy wallpaper, bright colors and trendy furniture can look amazing in your home, but buyers won't be able to look past them and consider the space first.

7. Skipping Major Repairs

Pulling up carpeting and painting the walls are relatively easy tasks, but you'll want to fix major issues as well. Cracks in the foundation or replacing the roof are expensive fixes that you may be wary of taking on, especially when you won't likely recoup the entire cost in the sale. But you're better off fixing these issues now rather than having the buyer ask for a credit at closing to cover the cost of the repair later. This way, you have more say over who does the job and the total cost of the repair. Plus, newly replaced features become a selling point once the property is listed. Gallagher says replacing the roof before listing your home can be cheaper than the cost a buyer would subtract from an offer. "You're likely to get that (cost back) in the sale price if you do the new roof," Gallagher says.

8. Cutting Costs on Photography

The first way many buyers see your property is by viewing photos of the house online, so don't make them cross your house off their list before they've even visited. Most real estate agents include professional photography in their marketing budget. Even if you can't get a professional, make sure all photos give the buyer an idea of the size of the rooms. Also make sure photos are well-lit and keep you out of the frame in any reflections.

9. Hiding Problems

If there are problems with the property you can't afford to repair before putting it on the market, you have to be honest about them – even if they're not visible to the naked eye. Sellers are required to note recent repairs, problems, and updates in the seller's disclosure. "All those things are going to come up in the inspection," Gallagher says, adding that it's best for everyone to know in advance rather than let the buyer have second thoughts after reading the inspection report. Even if the inspection doesn't catch a leak or structural issue, should the buyer be able to prove your knowledge of it later, you could face a lawsuit.

10. Being Unavailable

When your house is on the market, showing it should be your priority. That means if a buyer calls to tour the house, you need to be able to leave it in pristine condition quickly. Even on holidays, an interested buyer is likely serious about making an offer, and you shouldn't refuse a showing. So while you're trying to sell your house, aim to hold Thanksgiving or other holiday celebrations elsewhere.

11. Being Unwilling to Negotiate

If you've received an offer for your house that isn't quite what you'd hoped it would be, expect to negotiate. While you'll naturally feel your asking price is more than fair, the only way to come to a successful deal is to make sure the buyer also feels like he or she benefits. If you would like to see the sale price come up, consider offering to cover some of the buyer's closing costs or agreeing to a credit for a minor repair the inspector found.

12. Letting Your Emotions Get the Best of You

It's natural to have some emotional attachment to your house after living in it for years and celebrating milestones, holidays, and accomplishments with your family and friends there. But you have to view selling your house as a business deal. A low offer is not a personal affront but a start that can either be negotiated up or declined. Plans to renovate part of your house are not an insult to your taste but a difference in preferences. The more you can approach the sale of your house as a business deal, the better off you'll be to make the transaction as smooth as possible.

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

3285 Redwood Dr, Springfield, OR 

Price: $429,000    Beds: 3    Baths: 2.0    Sq Ft: 1494

The beautiful one-level home includes 2 separate & spacious living spaces with vaulted ceilings, exposed beams, large windows, and French doors leading to the backyard. The open concept kitchen includes all appliances, eating bar, and ample cabinetr... View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

The month of January saw some new life come into the Eugene and Springfield area housing market. The number of new homes hitting the market increased substantially from December of 2024. Home sales improved, as well as pending home sales. Home prices decreased slightly, which is a good thing as mortgage interest rates did not change much and remain at near 7%. Positive news with home sales in January may be a good signal for the 2025 housing market. The following are the home sales numbers for Lane County for the month of January 2025.

New Listings

New listings (340) increased 20.1% from the 283 listed in January 2024, and increased 75.3% from the 194 listed in December 2024.

Pending Sales

Pending sales (284) increased 10.1% from the 258 offers accepted in January 2024, and increased 9.2% from the 260 offers accepted in December 2024.

Closed Sales

Closed sales (232) increased 34.1% from the 173 closings in January 2024, and decreased 9.7% from the 257 closings in December 2024.

Inventory and Time on Market

Inventory increased to 2.8 months in January. Total market time increased to 76 days.

Year-to-Date Summary

Comparing the first month of 2025 to the same period in 2024, new listings (340) increased 20.1%, pending sales (284) increased 10.1%, and closed sales (232) increased 34.1%.

Average and Median Sale Prices

Comparing 2025 to 2024 through January, the average sale price has increased 4.8% from $460,800 to $482,900. In the same comparison, the median sale price has decreased 1.6% from $415,000 to $408,500.

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

4310 Hyacinth St, Eugene, OR 

Price: $749,000    Beds: 4    Baths: 3.0    Sq Ft: 2740

Nestled in a quiet, conveniently located cul-de-sac, this beautifully maintained two-story home offers the perfect blend of modern updates and serene surroundings. Step inside to find beautiful hardwood floors, a spacious living room, large family r... View this property >> 

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Are higher interest rates here to stay? To some extent, I believe they are. We may never see mortgage interest rates at 2.5% again. That's not all bad, though. Low mortgage interest rates to that extent have long-term issues. What we may see is rates decline from the 7% range and hopefully settle in at around 5.5% or maybe slightly lower. But for now, buyers seem to be settling in on the rates in the high 6% to 7% range. The national housing market seems to be breathing some life again, despite rates. The following is an article that talks about recent consumer trends with the mortgage interest rates.

Mortgage shoppers and hopeful homebuyers are getting no relief on borrowing costs at the beginning of the year, with mortgage rates shooting past the 7% mark and hitting their highest point since May.

But with the pandemic-era days of rock-bottom interest rates fading into distant memory, consumers may no longer be as easily deterred by climbing mortgage rates as they were in 2022, according to a brokerage CEO who says current costs are nothing new for many buyers.

Darren Copeland (pictured top), founder of Summit Lending, told Mortgage Professional America the mortgage industry had been battling that rate problem for two years – and many prospective homebuyers aren’t viewing rate spikes with the same dismay as before.

What’s more, many are moving ahead with their purchase if they’re able to, in the expectation of a potential refinance down the line when rates finally tick lower.

“I think people are getting used to it,” he said. “One of the things that we’re doing is having that discussion with them to make sure that they’re in the right spot and that they get a really good deal. But then we’re also moving forward what we’re already coaching them on, the future refi – so that when the rates do go down, eventually, whatever that timeline is, we’ll come back in.

“We’ll… tell people ‘Hey, we’ll watch the market for you. And we’ll hook you up on the refi,’ just to continue the good vibe to make sure you’re taking care of your database.”

Is housing set to turn the corner on the supply front?

Existing-home sales slid to their lowest level since August 2010 last month, hitting a seasonally adjusted annual pace of 3.78 million units, but the National Association of Realtors (NAR) – which released the data – indicated a turning point for the market could be imminent.

“The latest month’s sales look to be the bottom before inevitably turning higher in the new year,” Lawrence Yun, chief economist at the NAR, said, with a burst of supply hitting the market likely to spur growth in the months ahead. Buyers are increasingly conscious of the potential for a market uptick down the line, according to Copeland. “The challenge is if people sit around and they’re playing the rate game and waiting for rates to fall. Let’s say rates fall into the fives,” he said. “Now you’re going to have everyone coming out of the woodwork that wants to buy houses.

“So you’re overbidding $40,000, $50,000, $60,000 on a house. Whereas if you just bought the house now at 7% and in six months, let’s say the rates go down – instead of you overpaying for that house, now what you’re doing is a simple refi. Now you’re just saving money and everyone out there is fighting for the inventory.”

New buyers stay optimistic despite rates spiraling upwards

First-time buyers are facing especially steep challenges because of those affordability hurdles – but Copeland pointed to a relatively promising outlook for that buyer cohort in his market around the Kansas/Missouri border, even though those that can afford a property may not be able to get all the house they want for what they’re able to pay.

That’s still often preferable to renting. “With the way the rents have increased over the past few years, a first-time homebuyer payment versus rent is going to be very similar,” Copeland pointed out.

“One of the challenges is they forget that their parents had the starter home – the first step-up home. So these kids want to go straight to the type of house their parents have right now. They don’t want to take a step back and buy a first-time homebuyer house which is probably not as nice as what they grew up in.” Unsurprisingly, with prospects better for new buyers in that region than pricier parts of the country, plenty of first-time entrants to the market are turning their attention to a purchase in Kansas or Missouri. “Let’s say the rate is 7% or whatever it is,” Copeland said. “The payment on that compared to a house that they would get in New Jersey or California – it’s just crazy. It’s a whole different realm.”

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THIS WEEKS HOT HOME LISTING!

32568 Deberry Rd, Creswell, OR 

Price: $2,770,000    Beds: 4    Baths: 3.0    Sq Ft: 5433

Welcome to one of Lane County's finest estate homes! Every detail of this exquisite residence has been thoughtfully crafted to create an unparalleled living experience. Bathed in natural light, this unique home boasts soaring ceilings and premium ma... View this property >> 

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There is some good news in the national housing industry. Home sales were up in December of 2024. This is even with mortgage interest rates climbing a bit. If we see the same trend in January of 2025, there will be some optimism for a continued improving housing market. Here is a recent article from "NAR".

WASHINGTON (January 24, 2025) – Existing-home sales climbed in December, according to the National Association of REALTORS®. Sales advanced in three major U.S. regions and slipped in the Midwest. Year-over-year, sales accelerated in all four regions.

On an annual basis, existing-home sales (4.06 million) declined to the lowest level since 1995, while the median price reached a record high of $407,500 in 2024.

Total existing-home sales¹ – completed transactions that include single-family homes, townhomes, condominiums and co-ops – elevated 2.2% from November to a seasonally adjusted annual rate of 4.24 million in December. Year-over-year, sales swelled 9.3% (up from 3.88 million in December 2023).

"Home sales in the final months of the year showed solid recovery despite elevated mortgage rates," said NAR Chief Economist Lawrence Yun. "Home sales during the winter are typically softer than the spring and summer, but momentum is rising with sales climbing year-over-year for three straight months. Consumers clearly understand the long-term benefits of homeownership. Job and wage gains, along with increased inventory, are positively impacting the market."

Total housing inventory² registered at the end of December was 1.15 million units, down 13.5% from November but up 16.2% from one year ago (990,000). Unsold inventory sits at a 3.3-month supply at the current sales pace, down from 3.8 months in November but up from 3.1 months in December 2023.

The median existing-home price³ for all housing types in December was $404,400, up 6.0% from one year ago ($381,400). All four U.S. regions posted price increases.

"The median home price was elevated partly due to the upper-end market’s relative better performance," Yun added. “Sales rose by 35% from a year ago for homes priced above $1 million, while sales fell for homes priced under $250,000.”

REALTORS® Confidence Index

According to the monthly REALTORS® Confidence Index, properties typically remained on the market for 35 days in December, up from 32 days in November and 29 days in December 2023.

First-time buyers were responsible for 31% of sales in December, up from 30% in November 2024 and 29% in December 2023. NAR’s 2024 Profile of Home Buyers and Sellers – released November 2024⁴ – found that the annual share of first-time buyers was 24%, the lowest ever recorded.

Cash sales accounted for 28% of transactions in December, up from 25% in November but down from 29% in December 2023.
Individual investors or second-home buyers, who make up many cash sales, purchased 16% of homes in December, up from 13% in November and identical to December 2023.

Distressed sales⁵ – foreclosures and short sales – represented 2% of sales in December, unchanged from November and the previous year.

Mortgage Rates

According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.96% as of January 23. That’s down from 7.04% one week ago but up from 6.69% one year ago.

Single-family and Condo/Co-op Sales

Single-family home sales moved higher by 1.9% to a seasonally adjusted annual rate of 3.83 million in December, up 10.1% from the prior year. The median existing single-family home price was $409,300 in December, up 6.1% from December 2023.
Existing condominium and co-op sales increased 5.1% in December to a seasonally adjusted annual rate of 410,000 units, up 2.5% from one year ago (400,000). The median existing condo price was $359,000 in December, up 4.5% from the previous year ($343,500).

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THIS WEEKS HOT HOME LISTING!

2953 Maranta St, Eugene, OR 

Price: $315,000    Beds: 3    Baths: 1.0    Sq Ft: 894

Discover the potential of this charming fixer within a quiet cul-de-sac, nestled in a desirable Santa Clara neighborhood! This home features 3 bedrooms with a spacious guest bath, tub and shower. The front room has big windows overlooking the large... View this property >> 

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December of 2024 saw some slight improvements in the Lane County housing market. Overall, 2024 also saw a slight market improvement over 2023. However, the part of the housing market that has not improved is the inventory of homes on the market for sale. December 2024 saw 2.5 months of inventory, which is very low. Remember, a healthy market would see 4.5 to 6 months of inventory. The fact that home sales have improved in December may be a good sign that the housing market is going to improve in 2025. December saw a 20% increase in pending home sales nationally, which is also a very good sign. The first quarter of 2025 may tell the story of what the remainder of the year will look like. The following are the home sales numbers for Lane County in December of 2024.

New Listings

New listings (194) increased 9.6% from the 177 listed in December 2023, and decreased 20.8% from the 245 listed in November 2024.

Pending Sales

Pending sales (260) increased 25.0% from the 208 offers accepted in December 2023, and decreased 6.8% from the 279 offers accepted in November 2024.

Closed Sales

Closed sales (257) increased 19.5% from the 215 closings in December 2023, and decreased 9.2% from the 283 closings in November 2024.

Inventory and Time on Market

Inventory decreased to 2.5 months in December. Total market time increased to 72 days.

Year-to-Date Summary

Comparing the twelve months of 2024 to the same period in 2023, new listings (4,878) increased 3.0%, pending sales (3,811) increased 5.5%, and closed sales (3,699) increased 3.9%.

Average and Median Sale Prices

Comparing 2024 to 2023 through December, the average sale price has increased 1.3% from $470,600 to $476,700. In the same comparison, the median sale price has increased 1.6% from $432,900 to $440,000.

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THIS WEEKS HOT HOME LISTING!

32568 Deberry Rd, Creswell, OR 

Price: $2,895,000    Beds: 4    Baths: 3.0    Sq Ft: 5433

Welcome to one of Lane County's finest estate homes! Every detail of this exquisite residence has been thoughtfully crafted to create an unparalleled living experience. Bathed in natural light, this unique home boasts soaring ceilings and premium ma... View this property >> 

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The United States housing market has been plagued with an extremely low inventory of homes for sale for several years. Much of this situation has been caused by the rise in mortgage interest rates. As a nation, homeowners were spoiled for years with mortgage interest rates on their current homes that ranged from 2.5% to 3.5%. The inventory issue has been primarily created by homeowners reluctance to abandon these exceptionally low interest rates and move to another home purchase with rates that may be double or more than their interest rate on a current home. This lack of inventory has added to the rise in home prices and helped make homeownership a tough proposition for many would-be buyers. The following is a recent article from "Realtor.com" that talks about this issue and what may be coming our way with the national housing market.

The U.S. housing market crawled to a standstill last year—and while the latest projections show that 2025 is expected to bring only limited relief to buyers and sellers, there is a glimmer of hope on the horizon.

The year closed out with the strongest seasonal slump since January 2023. Homes lingered on the market for a whopping 70 days, up from 62 in November. It made December 2024 the slowest festive season in five years.

Inventory also plummeted 8.6% from November, marking the most precipitous drop in nearly two years.

Meanwhile, mortgage rates reached a six-month high, hitting 6.91% for the average 30-year fixed home loan for the week ending Jan. 2, according to the latest numbers from Freddie Mac.

On top of that, in mid-December, the Federal Reserve announced a plan for fewer-than-anticipated rate cuts in 2025, which was expected to have a chilling effect on the already catatonic market.

The Realtor.com® economic research team projects that mortgage rates will average 6.3% through 2025 and end 2024 at around 6.2%, dashing any hopes for a return to the COVID-19 pandemic-era below-3% rate.

The ‘lock-in’ effect still grips homeowners

The projected above-6% mortgage rate for the duration of 2025 is bad news not only for prospective buyers, but also for would-be sellers, who have spent the past year in the grips of the “lock-in” effect, which has made them unwilling to list their properties and part with their current, significantly lower mortgage rates.

A report from the Consumer Financial Protection Bureau released back in September revealed that about 60% of the 50.8 million active mortgages had interest rates below 4%, way lower than the December rate of 6.91%. 

Homeowners fortunate enough to be paying off their mortgage at the below-4% rate would think twice before moving to sell their home and then be forced to take out a new mortgage at a much higher rate.

“We expect the willingness of homeowners to sell their existing home and buy a new one to wane,” says Realtor.com Chief Economist Danielle Hale. “Put simply, potential home sellers and the market in general will still feel the effects of mortgage rate lock-in, which is more acute when rates are higher.”

But there are glimmers of hope on the horizon.

Hale says that while the first months of 2025 will see only a small increase in home stock, at least in part because of the lock-in effect’s persistent hold on homeowners, come spring, the inventory levels are projected to climb, even above the typical seasonal boost. She also projects that they will remain high throughout much of the summer. 

“Time will continue to be an important healer of mortgage rate lock, with only modest help from lower rates expected in 2025,” Hale explains. “Even in today’s tough housing market, life happens and some households move, buying and selling in whatever conditions the market offers.”

Home prices are set to rise

Last year saw home prices surge at a 4% rate, up from 1.1% in 2023, despite the stubbornly high mortgage rate and a glut of inventory driven by unmotivated buyers and sellers. 

The median home price in December inched down by 1.8% year over year, arriving at $402,502, after peaking at $406,100 in November. But there is more to those numbers than meets the eye.  

When the size of the listed properties is taken into account, the average home has increased in asking price per square foot by 1.3% compared with the same time in 2023. That signals that the stock of smaller and cheaper homes continues to grow in share. 

Realtor.com economists expect to see more of the same in the coming months, with home prices projected to go up throughout 2025 at a rate of 3.7%, spurred on by a combination of marginally lower mortgage rates and an 11.7% jump in existing for-sale inventory compared with last year.

“We think the downward pressure on price growth due to this supply-side effect will slightly win out over the upward pressure on price growth due to falling mortgage rates next year (at least compared to the relative balance this year),” says Hale.

But another factor to keep in mind is that there are still not enough homes being constructed in the U.S. to keep up with the growing demand for housing due to more than a decade of under-building, which is bound to drive the price of existing properties up.

According to a Realtor.com analysis released last February, the market in 2023 was missing up to 7.2 million homes.

Older, richer homebuyers are still in charge

The National Association of Realtors® 2024 Homebuyers and Sellers Report revealed that buyers over the past year tended to be older and wealthier than in the past. The median age of homebuyers was 56, up 7 years compared with 2023. The median age of first-time, repeat, and all buyers each reached record highs. 

This should come as no surprise, considering that the median listing price topped $402,000 in December, up an eye-watering 68% compared with November 2019, when the median home price hovered around $274,000, according to the NAR report. 

Meanwhile, just 24% of homebuyers last year were first-time buyers, a record low in the data’s 44-year history, says Realtor.com senior economic research analyst Hannah Jones. 

This trend favoring older and more deep-pocketed house hunters is expected to carry into the new year.

“It is likely that repeat buyers and older buyers will continue to participate in the housing market as a larger share than younger and first-time buyers in 2025,” adds Jones. “Still-expensive housing will make it challenging for younger buyers, especially those without the benefit of existing home equity, to break into the market.”

Housing marketing anticipates a ‘Trump bump’

With President-elect Donald Trump‘s inauguration for a second term just around the corner, Realtor.com economists anticipate potentially major shifts to the housing market, running the gamut from an easing of regulations to tax policy changes and even a wholesale recalibration of the supply-and-demand dynamics.

Trump’s first term in the White House was marked by tax cuts, deregulation, and adoption of pro-business policies aimed at boosting economic growth.

“Many of these initiatives could return in a Trump-led 2025, potentially affecting everything from mortgage rates to new construction projects and homeownership affordability,” says Hale.

But the anticipated “Trump bump” effect could be tempered by economic factors that are out of a president’s control, such as interest rates, inflation, and changing demographic trends.

What’s more, it remains to be seen whether Trump’s raft of campaign proposals to mitigate the crippling housing shortage—by making federal land available for homebuilding to boost supply, ease regulations, and tackle inflation—would go from mere stump-speech promises to actionable policies, and how quickly.

Mortgage rates just north of 6% are expected to keep payments essentially static in 2025 despite growing listing prices. But an anticipated higher economic growth under Trump could lead to a bump in incomes. And if effective household tax rates go down, people could see a net increase in their disposable household income. 

“If both income growth and lower tax rates come to fruition, we could see homes become somewhat more affordable in 2025 than in the past few years,” Hale notes.

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THIS WEEKS HOT HOME LISTING!

320 Mountaingate Dr, Springfield, OR 

Price: $117,500    Acres: 0.23    

Rare lot availability in the Mountaingate Community. Build your dream home here! Gorgeous mountain and valley views. Lot provides level driveway to garage opportunity, with potential for daylight basement opportunity in the rear of the lot. Nearby p... View this property >> 

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There is certainly some good news for home buyers and home sellers to end a dismal 2024 housing market. Home sale activity has picked up substantially nationwide as the number of pending sales has suddenly increased significantly. This should lead to a major increase in home sales next month. This may also indicate some great news for the 2025 national housing market. The following is a new report out of "NAR".

Real estate professionals are drafting more purchase contracts as pending home sales surge to a 21-month high. Read more from NAR’s latest housing report.

After home sales hit a 15-month low in summer, the housing market has been shifting toward the rosy real estate outlook economists are predicting for 2025.

In the latest sign of improvement, pending home sales—a gauge of future home sales based on contract signings—rose 2.2% month over month in November, the National Association of REALTORS® reports. Marking the fourth consecutive month of increases, contract signings are up nearly 7% from a year ago and are at their highest level since February 2023.

“Consumers appeared to have recalibrated expectations regarding mortgage rates and are taking advantage of more available inventory,” says NAR Chief Economist Lawrence Yun. “Mortgage rates have averaged above 6% for the past 24 months. Buyers are no longer waiting for or expecting mortgage rates to fall substantially. Furthermore, buyers are in a better position to negotiate as the market shifts away from a seller’s market.”

Several recent housing indicators have painted a healthier picture of the market:

• Existing-home sales jumped 5% annually in November.
• The median home price has climbed 4.7% year over year.
• The number of existing homes on the market is up nearly 18% from a year ago.
• New-home construction for single-family homes rose 7% annually in November.

Still, “some markets will outperform, driven primarily by local job gains and the flow of new inventory supply,” Yun says.

Contract signings were up annually in all four major regions of the U.S. in November; three posted a monthly uptick. The South saw the most notable monthly increase, with pending home sales up 5.2%. The Northeast was the only region to post a decline, with pending home sales falling 1.3% month over month. However, contract signings are still up in the region by nearly 6% compared to a year ago, NAR’s report shows.

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THIS WEEKS HOT HOME LISTING!

4620 Wendover St, Eugene, OR 

Price: $625,000    Beds: 3    Baths: 3.0    Sq Ft: 2086

Welcome to this fantastic Santa Clara home located in a quiet neighborhood! This home features 3 bedrooms plus an office, 3 full bathrooms & and an upstairs bonus room. The vaulted front porch has been accented with cedar and offers a comfortable se... View this property >> 

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