The real estate market continues to improve. Some analysts predict rising home prices in 2013 of 6%, on a nationwide basis. Of course, all real estate is local–there can be a boom in one town and a bust in another. So, what are real estate prices in Lane County going to do in 2013? We tend to follow national trends, so my guess is that prices will go up, but not as rapidly as they will nationally.
Prices are being buoyed by fundamentals, namely decreasing unemployment and a low inventory of homes for sale. Fundamentals are good–they’re the opposite of bubble conditions; bubbles are unsustainable, which is anathema in Eugene. In Lane County we’re seeing gradually decreasing unemployment and there is a low supply of homes for sale, but not as strong as national trends. The single biggest factor, in my opinion, is our 5.2 month’s supply of houses for sale versus 4.4 months nationally. If you have questions on Eugene Springfield real estate, please contact me.