According to Portland based RMLS, Eugene, Lane County housing is headed for an early spring sustainable recovery as indicated by the March 13 report.
According to Realtor David Duncan of Barnhart Associates of Eugene, the local and regional market is becoming very active, as pent-up demand exceeds Lane County housing inventory.
Research indicates that first quarter 2013 will be the third consecutive fiscal quarter to report a positive trend in area home sales.
In this Examiner’s Friday interview with Duncan, a Principle Broker as well as an (ABR) accredited buyer’s agent, Dave notes an increase in phone and walk-in activity as spring approaches.
According to Duncan Winter 2013 has been an active one, and he anticipates a very busy spring and summer real estate season.
The RMLS, March “market action” report reflects market activity for February; the second month in 2013 to record an increase in average as well as “median” property closed sales value.
January and February combined reports a 2%+ increase in recorded closed sale market value since the beginning of 2013. And while the number of homes being listed is increasing over the number reported in January, local Realtors are finding it difficult to fill the demand for affordable housing in Eugene, Lane County.
In viewing the report readers will discover that 2013 is transitioning into a record year for area residential real estate sales.
Furthermore the report demonstrates a direct correlation between low mortgage interest rates; a 5.7 month inventory; and a (slight) loosening of F.H.A. mortgage qualification guidelines. A five month inventory is historically indicative of a return to a "seller's" market, as demand exceeds supply.
Duncan and other area Realtors are reporting multiple offers as well as quick offer/acceptance time –line for properties that are priced “to the market.”
With average days on market falling to pre-2007 levels, the march report substantiate a measurable increase in sale price over those in January 2013 and February 2012.