Recently the front page of a Southern Oregon local newspaper carried a headline proclaiming IS REAL ESTATE ON THE REBOUND? But turn to the back page of the same paper and you get a different headline: HOUSING STARTS HIT LOWEST LEVEL SINCE ’91. With so much conflicting news about the Southern Oregon real estate market, what is one to believe? No wonder Buyers and Sellers are dazed and confused!
Let’s start with the real estate Rebound. Is the southern Oregon real estate rebound true or just wishful thinking? According to the front page, median home sales in July took nearly a $20,000 dollar leap when compared with the median price in May of this year. Signs of a strengthening market? Definitely. Plus the number of home sales increased from 71 in May to 88 in June to 97 in July. Sales seem to be increasing along with the summertime temperatures.
But the gloom returns on the back page where the news told about the construction of new homes nationwide sinking to the lowest levels in more than 17 years. Given all the foreclosures currently on the Southern Oregon real estate market and the problems surrounding the financial giants of Fannie Mae and Freddie Mac, alarmists are having a field day.
However, with reasonable confidence, the real estate market in Southern Oregon and Grants Pass is on the road to recovery.
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