This was the week the SOMLS housing stats were reported for the February, March and April time periods. The chart below tells us exactly what the market did last month. Our market is continuing to normalize itself.
A normal market is generally a six month supply of inventory. Since last July, we have seen this rise to 2.9 months, which continues this track. Last month saw a 0% rise is equity gained by homeowners. The chart below shows a 4.3% overall rise in value for Jackson County compared to April of last year. A good, solid overall increase. Of course, value varied neighborhood by neighborhood.
Mortgage Interest Rates remained steady this past week. Catch last week’s Real Estate Show with Guy Giles. Guy shares some of the various loan products available to buyers and the important of getting pre approved. He was joined by Jessica Bennington, of the Builders Association of Southern Oregon. Who shared plans and changes for the upcoming Tour of Homes and what took place during the recent BASO Home Shows in Medford and Grants Pass. Jessica Bennington and Guy Giles at KCMX Studio.
Here is this weeks Mortgage Rate Range.
Next Real Estate Show, Saturday, May 18 KCMX AM 880 when Hal Jones and Laura Horton join us about a new partnership between the Rogue Valley Association of Realtors and Medford School District 549C. One hint, it will strengthen the Real Estate Industry in Southern Oregon. I can’t wait to learn more.
What are some of the features being touted about that could help you sell your home faster? The chart below shows the top items. These include steam oven, professional appliances, wine cellar, steam shower and pot filler. When was the last time we used the word steam in a home sale. Tastes and amenities do change and steam is making a big comeback.
Finally, I attend Rogue River High School’s Future Farmers of American (FFA) Honors banquet this past week. This program is one of the best in the USA and its students are highly motivated and will be successful in the future. They’re showing their trophies won at recent district and state competition.
FFA is education in action for high school students that prepares them for the future on many levels. I bet they’ll all be homeowners one day. These are impressive young people.
Have a great week. Please get a hold of me if you’d like to discuss any Real Estate ideas or questions.
call or text: 541 621 7036