Market Talk! S. Oregon Real Estate

We’re pretty much in agreement that summer has arrived in S Oregon. (Officially this Thursday)  Hopefully, smoky skies will not be a part of the next few months of discussion we will be having..
Meanwhile, Real Estate sales continue to show our market is quite active.  The biggest news from last week was that inventories were way up.  More than 100 alone in Jackson County, that’s the most we’ve seen.  Other notes: only a handful of closings in Josephine County, but sellers received over 98% of their listed price.  Check the rest below.
You’ll want to catch last week’s Real Estate Show with guest Travis Hand, owner of Rogue Inspection Services. Travis is an instructor for the Rogue Valley Association of Realtors, and shares all aspects of a general home inspection, plus the many  types of other inspections buyers and sellers might consider. He joins co-host Alice Lema and me for an in-depth look at the world of real estate inspections.
(Alice Lema, Travis Hand, Pete Belcastro at KCMX Studio.)
The show airs Saturdays KCMX AM 880, 10 am and on YouTube.
What are the reasons some homeowner would rather renovate their home rather than buy a more suitable one? The stats below show the top answers and they may surprise you.

Another sign of market activity is the SOMLS stats.  For the latest three-month period, note below, values have risen by 3.1% which is down overall from past periods but shows a solid investment with average increases in value of 3.1%. Those figures also vary by neighborhood so check them out.If you’re a Baby Boomer in age then you’ll enjoy knowing that Boomers are on the move.  NAR figures show the primary reason Boomers sell their current home.
Remembere 10,000 Boomers retire a day for another 17 years. And finally this week.  Mortgage Interest Rates remain below 4% and that continues to fuel the housing market.  As long as these rates continue, expect buying and selling to continue at a strong pace. Note that a 15 year fixed rate mortgage is at 3.3%, Wow.
Guy Giles from Mutual of Omaha Mortgage will be Alice and my guest this week on the Real Estate Show to explain options for buyers seeking a loan.  Saturday June 22, 10 am KCMX AM 880.
Have a terrific week ahead and enjoy the Summer Solstice.
Please contact us anytime:
Call or text:  541 621 7036
email  petebelcastro@johnlscott.com