A Housing Affordability Problem or a Housing Accessibility Problem?

The housing market in Central Oregon continued its upward trend over the past year. The median single-family home price (on lots under 1 acre) in Deschutes County is up more than 12 percent, in Jefferson County 18 percent and more than 16 percent in Crook County. According to the National Association of REALTORS®, this is above the national average of around a 5 percent year-over-year increase.

While the increasing prices may resemble the previous housing bubble, the tightness in the credit and building markets is the opposite of the factors that led to the recession. There are over 14 percent fewer homes for sale in Deschutes County than there were a year ago, over 27 percent fewer in Jefferson County and over 17 percent fewer in Crook County. According to the Mortgage Banker Association, the Mortgage Credit Availability Index has been on a downward cycle since October 2015, after climbing solidly since October 2012.

“At COAR we advocate for housing options in Central Oregon. Through land-use changes, builder incentives and philanthropy we should see an increase in options in our community,” said Dave Feagans, president of the Central Oregon Association of REALTORS® and the Central Oregon Multiple Listing Service. “Most recently COAR members participated in workforce housing discussions at the Bend Livability Conference, and we are sponsoring the House that Real Estate Built with the Bend Area Habitat for Humanity.”

Working with a REALTOR® can give buyers and sellers access to resources and knowledge of the local market, which is critical in this fast moving market. To search for homes and see more market statistics, please visit www.coar.com.

All data based on data available at the end of June 2016. Based on data supplied by the Central Oregon MLS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.