My apologies for not having posted for sometime. My father has been diagnosed with mesothelioma ("asbestos cancer") and I've been helping him seek and get treatment. Many thanks to all of you who have offered your support, prayers and best wishes as we continue to battle.
After increasing for the last several months, the pace of home sales in Bend slowed for the second month in a row in August. 118 single family houses on one acre or less were reported sold last month, down from 141 in July and from 135 the same month a year ago.
Perhaps the homebuyer tax credit had a bigger impact on sales than I'd previously been willing to give it credit, as buyers were motivated to buy sooner to qualify for the credit of up to $8,000.
That said, more than 200 pending sales from July and August are still in escrow (buyer and seller signed a sale agreement during those months and are proceeding to close the transaction). 146 of those deals were signed in August alone.
So despite the lower numbers, I remain confident that the level of sales will continue to be fairly balanced with the number of homes listed for sale. As it stands now, there is just under 6.5 months of available inventory.
As always, please feel free to call or email me with any questions you may have. 541.410.9060.
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