Real Estate Market

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Featured Listing

For Sale: $265,000

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Market Trends

Sales Start Fast in 2017 | Data Report

With a steady buyer demand currently in the market, if you are thinking of selling, perhaps you should do it now to avoid additional competition coming to the marke

According to the National Association of Realtors®, sales of existing homes jumped out to a fast start in 2017, eclipsing a recent high and hitting the quickest pace in nearly a decade. All major regions except for the Midwest saw sales growth last month.

Total existing-home sales (transactions for single-family homes, townhomes, condominiums and co-ops), bumped up 3.3 percent to a seasonally adjusted annual rate of 5.69 million in January from 5.51 million in December 2016. January's sales velocity is 3.8 percent above one year ago (5.48 million) and eclipses November 2016 (5.60 million) -- this is the quickest pace since February 2007 (5.79 million).

Existing Home Sales By Region

NAR's chief economist, Lawrence Yun, indicated that January's sales increase points to stability among consumers despite a rising interest rate environment. "Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home," Yun said.

Housing Data Takeaways

  • January's median existing-home price (all housing types) was $228,900, up 7.1 percent from January 2016 ($213,700). January's price bump represents the 59th straight month of year-over-year gains.
     
  • Total US housing inventory at January's end grew 2.4 percent to 1.69 million existing homes available for sale -- but this remains 7.1 percent lower than a year ago (1.82 million) and has dropped for 20 straight months. Nationally, unsold inventory offers a 3.6-month supply at the current sales pace (the same as December 2016).
     
  • First-time buyers generated 33 percent of US sales in January, up from 32 percent in December and one year ago.
     
  • Freddie Mac data shows the average commitment rate for a 30-year, conventional, fixed-rate mortgage fell a bit in January to 4.15 percent from 4.20 percent in December. The average rate across 2016 was 3.65 percent.

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Your credit score is a composite snapshot of your credit history. A high credit score takes time to cultivate, and is not likely to rise much in a short period of time. Generally speaking, you want to make sure you pay your bills on time, keep outstanding debt levels to a reasonable amount for each account, and avoid closing accounts you've successfully paid-off and managed. Don't lose hope if you have less than perfect credit, there are still good loan programs out there for responsible borrowers. We have a list of preferred local lenders who can help you find the best financing programs for your specific needs.

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Check Out Our Latest Featured Listings In Eugene

Are you looking to buy a home in Eugene? Then check out these two featured listings located on Norkenzie Rd and 8th Ave.  These homes are great finds, whether you want to live downtown or in the suburbs.

1071 W 8TH AVE, Eugene

Here's a vintage home in the heart of Downtown Eugene thast comes with hardwood floor, arhced entryways, and woodburning fireplace. Also has a finished basement with bath and laundry room and partial kitchen. Close to the University of Oregon and the Washington-Jefferson St bridge, it's in the ideal location for students or commuters, as well as being an outstanding investment property for renting out.

Visit the property detail page for more info and photos!

2864 NORKENZIE RD, Eugene

This 3 bed, 2 bath home is perfect for your family and located in the desirable Cal Young area - close to Cal Young Middle School and Sheldon High School, Valley River Center, and the Oakway Mall. Kitchen comes complete with appliances. Also comes with gas fireplace, master bed w/ full bath, spacious living room, and 2 car garage.

Visit the property detail page for more info and photos!

Find more great homes in the Willamette Valley on our Featured Property page.