According to data provided by Portland based RMLS, 2012 was a good year for Lane County real estate. Furthermore market data indicates an even, no loss year when comparing 2012 to 2011, the first year to do so since the market meltdown of 2008. Eugene, Lane County housing remains on a recovery fast track for 2013.
The latest market data report indicates that demand is out pacing a shrinking housing inventory. Based on the current rate of recorded sales, inventory stands at 5.2 months.
A number not visited since the height of the real estate bubble of 2007, there's a noticeable shortage of quality housing inventory in Eugene, Lane County.
January 2013 continues the trend by posting a small (1.2%) but measurable price increase in median closed sales, over those of December 2012.
“What’s driving a usually stagnant winter market is pent up consumer demand; low housing inventory and near historic low interest rates,” says area Realtor David Wilkie. After 5 years of a painfully slow market recovery, Wilkie and area home sellers welcome the market up tick.
Eugene Realtors Roy and Patty Keene of Windermere R.E. Lane County are advising their Buyers that now may be the best time to purchase real property. Based on a combined 60 years of real estate purchase and sales experience, the Keene’s believe that price will continue to rise in 2013, as substantiated by the February RMLS report.
A perfect storm: An unusually low housing inventory, historically low interest rates and the reemergence of (limited) stated income loan availability, coupled with a five year lull in the regional real estate market is resulting in a resurgence of outside interest in Eugene, Lane County real estate.
According to this Examiner, as the national and state economy continues to uptrend, so will residential real estate prices in Lane County continue to; barring any unforeseen economic or ecological disaster? The present market report demonstrates a text book supply and demand scenario that will continue well into 2014.