Despite shelter in place orders and overall uncertainty about what happens next, life goes on. Two examples of that at the moment are the stock and housing markets. The US Labor Department reported that in April alone, over 20 million jobs lost, while the Dow Jones Industrial Average is
up more than 30%
since March lows. April 2020 home inventory in Central Oregon has fallen 19.09% since April 2019, making our anemic housing supply even more challenged. Not surprisingly, prices have increased with homes selling for an average of 97.4% of asking price. Are the stock investors and current home buyers taking a risk at these prices? Possibly, although there is a risk in waiting as well. Economists and behavioral scientists are predicting a
shift in our country's demographics
, with many people looking to leave densely populated cities in favor of more sparsely populated areas. To date, our rising housing prices have not deterred many buyers! Most serious buyers are ready and able when the right house comes along and understand that the competitive housing market requires a competitive offer.
This week I had the pleasure of helping two different families close on homes in Central Oregon. From lenders to title offices, electronic signatures, to virtual showings, I have the tools and knowledge to help you, no matter the environment. Let me design a strategy that will find your perfect home while keeping you safe throughout the process!