Real estate market: if there is a mortgage, buy



The real estate market over the past 90 days has seen a housing shortage amid high demand for housing. In Albany, the average selling price has increased over the past 90 days to $ 384,687 and in Corvallis to $ 466,706. Average home prices rose to $ 384,000 in Albany and $ 440,000 in Corvallis. In Albany, the average number of days on the market dropped to 82 days, but in Corvallis it remained unchanged at 67 days.

In Lebanon, over the past 90 days, the average home price is lower than in Corvallis or Albany at $ 310,546. The average sale price is up to $ 301,500, with houses on the market an average of 56 days.

The number of listings in the market has grown to 36 active listings in MLS in Albany, which is less than half a year of inventory, and 37 active listings in Corvallis, which is just under one month of inventory. Lebanon currently has 16 active listings, which equates to just over a month of inventory.

The above stats were provided by Lawyer from Dave Pouch Remax. Pautsch Hosts “Talk about real estate at KGAL” every Saturday at 10.00 KGAL. His interpretation of the market is as follows:

The numbers just don’t lie. We have a housing shortage and a very high demand. People ask if there is a bubble, and many smart people comment on it. I do not think so. That’s why. Real estate is all about supply and demand. Offering, as a function, the time it takes to find and develop land, obtain permits and actually build houses is a long process. We have fallen behind by several million units across the country in the past 12 years since the last housing market crash. It is easy to see that there will be no major changes in the proposal in the near future. At the same time, low interest rates, a strong economy and a very large demographic of millennials who are aging and want to become homeowners are keeping demand high. Thus, apart from a serious collapse of the national economy, there is no reason to suspect that there will be rapid changes on the DEMAND side. Therefore, in my opinion, the bubble is not there. For better or worse, the market we have is likely to be the market we will have in the next few years. While disappointing for everyone (except maybe Sellers who don’t need to buy anything else), multiple bids, overpriced sales, agreeing to concessions on overpriced valuations, or limiting repairs for a while will be the norm. … … Focus on paying monthly. If you can live in a home you like for a monthly price you can afford, this is still a good time to buy. I mean, you need to live somewhere, right?

Check out the next month to see where the market will go.

Keira Young


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