A widely-held theory is that about 6 months of available inventory represents a "balanced" or "neutral" real estate market, favoring neither buyers nor sellers. At September's rate of sales, the Bend area housing market has reached this balanced, neutral position.
There were 148 stick built houses on less than an acre reported sold in Bend for the month of September. There are currently 878 houses in Bend currently listed for sale in the MLS of Central Oregon. Dividing 878 by 148 gives us 5.93, which represents the "absorption rate," or the number of months it would take to "absorb" all of the houses listed today at September's sales pace.
Though different price ranges yield vastly different absorption rates, the overall market in Bend continues to show improvement.
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