Market Talk! S.Oregon Real Estate for Jan.10

Happy New Year Friends:   Wow, 2020 is here and as far as Southern Oregon Real Estate goes, it’s going to be quite a year.
In the just-concluded 2019 calendar year Jackson, Josephine, and Klamath counties, combined, sold $5.6B worth of real estate.  That represented just over 18,000 real estate sides or transactions.  If 2020 sales beat those numbers, it will be quite a year indeed.  So far, early indications are looking strong.
For example, people continue to move to Oregon.  The chart below shows Oregon trailing only Idaho for in-migration in 2019.

Another reason for optimism is that mortgage interest rates are projected to remain below 4% throughout the year.  See below.
December’s Market Snap shows the effect of the Winter Selling Cycle, but upon closer examination, the lower price ranges remain quite active with under two months’ supply of inventory on properties priced $350,000 and below.  Look at the chart below and note the high supply of inventory in the higher price ranges.We have some amazing Real Estate Shows you’ll want to check out.  Guy Giles and Derek Brite from Mutual of Omaha Mortgage stop by to share the latest mortgage rate information. Plus, a prediction about 2020 rates and new types of loans available to buyers.  Check it out Saturday, 10 am KCMX AM 880.   Derek Brite, Guy Giles, Alice Lems, Pete Belcastro above.
And on YouTube, you really need to check out the show with Kim Ramsay, the owner of Neilsen Research Labs of Medford and Grants Pass.  Kim shares her experiences in testing water samples from the region plus the types of testing their labs do like for asbestos and mold. You’ll hear about testing you may want to have completed before you sell a home.  Check it out.Kim Ramsay, Alice Lema, and Pete Belcastro, above.
Finally, this week, take a look at the latest mortgage interest rates that continue to be the fuel that drives our real estate market.Have a great week!  Please contact us anytime for real estate information or to chat about issues you feel are important.
Pete Belcastro
Call or Text    541 621 7036
Alice Lema
Call or text   541 301 7980.

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