Now that the market is slowing down, homeowners who haven't sold at the price they were hoping for are increasingly pulling their homes off the market. According to the latest data from Realtor.com, the number of homeowners taking their homes off the market is up 38% since the start of this year and 48% since the same time last June. For every 100 new listings in June, about 21 homes were taken off the market.

And if you've made that same choice, you're probably frustrated things didn't go the way you wanted. It's hard when you feel like the market isn't working with you. But while slowdowns can be painful in the moment, history tells us they don't last forever.

History Repeats Itself: Proof from the Past

This isn't the first time the housing market has experienced a slowdown. Here are some other notable times when home sales dropped significantly:

• 1980s: When mortga...

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More Bend Home Inventory and Moderate Price Increases Were the Norm for 2024 Sales

2024 Bend home sales experienced modest price increases for the year, but Bend home buyers were fortunate to have more options. Sellers who had hesitated putting their property on the market during Covid and following when mortgage interest rates were close to 8% finally had more inclination to do so when mortgage rates dropped to the mid 6% range during the summer of 2024. Delayed moves which were offset by high mortgage rates for a subsequent purchase finally made sense when rates dropped. Although there was an increase in home prices and sales for Bend single family homes, it was modest. With more in...

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Bend Home Prices Up and Inventory Levels Down

Despite the trends for January and February 2024 in which prices seemed to stabilize, the sales price of Bend homes rose unexpectedly in March. The year over year figure shows both median and average Bend home prices were up over 12% and inventory levels were down. When coupled with the steep rise in prices, affordability remains a major problem for potential Bend home buyers.

When March 2024 is compared with March 2023 for Bend single family homes on less than an acre, the following trends are noted:

• Average sales price up 12% to $893,967*
• Median sales price up 13.2% to $760,000
• Average list price up 9....

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Bend Home Sales Take a Downward Turn

The Bend real estate market has been on a roller coaster over the past few years. The Covid-19 pandemic triggered a massive boom in Bend single family home sales, resulting in multiple offers, dramatic price increases, and limited inventory.  However, since the peak in home prices the summer of 2022, home prices and home sales have dropped, inventory levels, days on market and interest rates have risen while new homes hitting the market are significantly down.  Many Bend homebuyers cannot find property that meets their needs. While more homes are on the market, the numbers are still not at balanced levels with less than 2 months of inventory. If we throw into the mix the shifting mortgage interest rat...

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