It’s time for another Roseburg Oregon Market Update. The market is adjusting quickly, and we’re here to keep everyone informed every step of the way.
We’re now knees-deep into the recession and people are feeling it. For all of those who were saying “Recession? Where? I don’t see a recession.” Are now having to come to terms with reality.
But where does this put the Roseburg Oregon real estate market?
At the beginning of the year, I mentioned it goes 1 of 2 ways. Either inflation makes real estate prices continue to inflate, or interest rates rise so much it hurts affordability and prices soften.
The thing I can tell you is that all of the people who said that Roseburg real estate prices would continue to rise uncontrollably with the inflation problem (which I recognized was a possibility as well) were wrong.
So are prices going down? I can tell you it certainly feels like they are. Looking at all the data points, median days on market have gone from 12 to 35 almost tripling from this time last year. Sellers are getting on average over 8% less than asking price, and there are at least 25% LESS buyers than there were at this time last year. And it is undoubtedly affecting the Roseburg Oregon real estate market.
So what do you think? Leave us a comment below with your thoughts and market predictions!
Thanks so much for reading and watching our Roseburg Oregon Market Update video! If you haven’t already, make sure to check out our blog and subscribe to our YouTube channel to learn all about what it’s like living here in Roseburg Oregon and the greater Umpqua Valley!
