Oregon: Top Housing Market by 2014?

Reader Darin points us to a Yahoo/Bloomberg article touting Washington and Oregon as the top two housing markets to rebound by early 2014 (funny how that number went from late 2009 now to 2014).

The article specifically calls out Bend:

The area around Bend area, in central Oregon’s high desert by the Cascade Mountains, has the second-highest four-year growth forecast, 33.6 percent, after Bremerton-Silverdale, Wash. Bend draws home buyers and visitors with its wealth of outdoor recreational opportunities, but its prices have dropped about 40 percent since hitting a peak in late 2006. Fiserv and Moody’s Economy.com now expect a rapid recovery starting next year. Greg Broderick, a real estate broker in Bend, says prices have overcorrected and buyers are seeing good value in the market. Homes priced the low hundred-thousand-dollar range “are being snapped up at a furious pace,” he says. Still, the area must deal with a higher-than-average unemployment rate, which the BLS says was 13.4 percent in June.

Yep, that jobs thing is kind of a big deal. You can’t eat lifestyle.

Full article over at Yahoo real estate.

August 7, 2010 · Filed Under Market Activity, National News, Uncategorized

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