The Bend Bulletin reports that home prices are up 5.73% in Deschutes County, which includes the city of Bend, Oregon. The Federal Housing Finance Agency’s House Price Index shows Deschutes ranked 88 for the highest one-year increase in home prices out of 241 metro areas nationwide. “House prices rose again in all states and the top 100 metro areas, but the pace of growth has slackened,” William Doerner, the agency’s supervisory economist. “The majority of states and cities are experiencing slower house price gains than they did a year ago, even with (a) constrained housing supply and extremely attractive mortgage rates.”
In a separate report released earlier this month by the Beacon Appraisal Group of Redmond, the median price in July for a single-family home hit a record $470,000 in Bend. In Redmond, it was $315,000. The Federal Housing Finance Agency produces the nation’s only free, publicly available report that measures changes in single-family home prices in all 50 states and more than 400 cities.
Boise, Idaho’s, MSA had the highest price increase, 13.63%, in the nation from the second quarter of 2018 to the same quarter this year, which ended June 30.
Two other Oregon metro areas ranked higher than the Bend area. Salem finished 55, with prices rising 6.56% year over year, and Eugene-Springfield ranked 65, with an increase of 6.33%. The Medford MSA came in at 123, with an increase of 5.03%, and the Portland-Vancouver-Hillsboro metro area ranked 190, with a 3.38% price increase.
Read More
