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Spring has Sprung!
With the change in weather in the last week, it's amazing to see the transformation of people's spirits as we move out of the cold Winter months into our warmer Sun-filled Spring days! Perhaps this transformation has crossed into the minds of Sellers as well. We saw a 13.6% increase in the number of homes for sale in March as compared to February of this year. However, with that increase inventory came an 18.2% increase in sales last month over February which continues to create an inventory imbalance. Buyer's have returned from across the country sifting through the limited number of homes that are available for sale. As builders are scrambling trying fill the gap, we can continue to expect a lag in availableinventory as the supply of buildable land is becoming more and more challenging to locate. For those builders who were bold enough to buy during the downturn a few years ago, they are now well positioned to ride this new wave of market activity. As the saying goes, hindsight is always 20/20, we all wish we would have put aside some of the doomsday talk four years ago and taken a realistic look at the fact that the fundamentals of our area and the quality of life never changed. Had we rationalized this, many would have speculated a bit more and be in a more enviable position today as those who did. But let's not let what "could have been" impact what can be done today to position ourselves for the continued growth of our area. With a population forecast of 120,000 in the City of Bend by the year 2020, a 33% increase from today, I think we'll once again be looking back wishing we would have acted sooner!
Talk to one of our real estate team members today to help get you properly positioned with your real estate objectives and goals. Whether you're looking for a piece of land to build a future home, or looking to step out and move up to a larger home before the next run up in prices, now is the time!
By: Terry Denoux, PC, ABR, GRI
Managing Principal Broker
BHGRE Northwest Living
Exclusive "Snowbird Concierge Service!"
Looking for a Desert or Island Getaway? We now have a dedicated team ready to assist you with your Snowbird Dreams!
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