Bend Oregon Real Estate Market Forecast for 2010
The Bend Oregon real estate market continues its state of vacillation. Even the pundits (pictured below)
can’t seem to agree on where things are headed. On the tails of an alarmist headline (Bend Oregon Home Price Drop Leads Nation) based on a report done by the Federal Housing Finance Agency, comes a dose of optimism supplied by Money Magazine.
In a report which came out on 3/19, CNN.com did a forecast that rated the largest projected price gains for 2010. Bend Oregon real estate appreciation was ranked at number 10 in the country at 3.3%. Nothing to get overly excited about, but still a far cry from the 20% hit of 2009. It was interesting to note that many of the biggest gainers were likewise from the Pacific Northwest.
Some of the verbiage in the online report paints Bend “. . . where the Cascades meet the Great Basin desert . . . a sportsman’s paradise, drawing tourists from all over the Northwest.
Other economic engines include health care, tech services and wood products manufacturing. But unemployment is high, with 14.9% out of work as of December.”
It also pointed out that just four years ago, the Bend Oregon real estate market was one of the strongest in the country. Homes in Bend appreciated by more than 130% from 2000 until late 2006, before taking the fall described in the FHFA report alluded to above.
To take advantage of some of that projected appreciation, contact your Bend Oregon Realtor.
