Back to Reality: Bend Housing Market
The Bend housing market in Central Oregon is returning to a more sustainable growth rate after a period of unprecedented price increases during the COVID era. The market has seen little to no growth over the past four years, but is now realigning with its pre-COVID trajectory, with inventory levels and days on market indicating a healthier market.
The Bend housing market is correcting itself after a wild COVID era. It saw a 119% increase in median home sale price over the past decade. A 3-5% annual growth rate is typical, but Bend experienced 7.5% from 2015 to 2020. The market has realigned with its pre-COVID trajectory, with 3.4 months of supply and 13 days on market. This suggests a return to healthier, more sustainable levels. The data indicates a period of steady growth is possible.
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