According to information released by MDA Dataquick, home sales in California jumped 65% in September from a year earlier.
And perhaps more importantly, the sales recorded in September were also up about 6% from August.
While more than half of the existing home sales recorded in California last month were foreclosure resales, and the median price of those sales was down 34.2% from a year earlier, it does provide proof that there are ready, willing and able buyers today.
This is a good sign for the market locally since California is a big feeder market for Central Oregon. There's no doubt that some of these recent home sellers are now in the process of relocating to the Bend and buying homes here.
According to Dataquick, the inflation-adjusted mortgage payments homebuyers committed themselves last month were back to where they were in early 2001, before home prices shot up so drastically.
Speaking from personal experience, it seems to me that there are more people out "kicking tires" and inquirying about properties listed for sale.
Hopefully this trend will continue from here on.
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