Market Talk! S.Oregon Real Estate for January 8.
Southern Oregon’s Real Estate Market can be summed up easily as we enter 2021 — high demand, low inventory. In fact, as you’ll see in this week’s reports, we are at a critical stage with inventory levels in some price ranges at one week’s worth. It’s not that way overall but unless more homes are listed for sale, we’ll continue to see more people shut out of the market even though they are qualified to buy.
Last week’s stats show low listing levels. Jackson County has less than 250 residential frame built homes for sale.
Low inventory is also one of the subjects on this week’s episode of Southern Oregon’s Real Estate Show. Guy Giles of Mutual of Omaha Mortgage joins Pete Belcastro and Alice Lema for a discussion about mortgage interest rates that are leaving many approved to buy but choice and variety of homes is so poor. Show airs KCMX AM 880, Saturday 10 am and Sunday 6 pm , Please tell your friends.
Check some of the latest mortgage rates available for buyers. Note the federal FHS, USDA and VA loan percentages. Amazing opportunity own a home or to move up in price categories. How long will these rates last? The big unknown question as we begin 2021.
We know 2021 is going to be a big real estate year. But how big? Look at Zillow’s forecast which predicts we will have the biggest annual sales growth since 1983. So get ready.
We love talking real estate with you, Together in 2021. Call or text anytime, Pete Belcastro 541 621 7036
or petebelcastro@johnlscott.com Hope your new year will be a big real estate year as well.
