The housing market is on the mend for the Central Oregon area, according to a report in Wednesday’s Bend Bulletin.
Ralph Cole, of Ferguson Wellman Capital Management (Portland, Oregon), reported to attendees of the annual Real Estate Forecast Breakfast held in Bend.
According to Cole, the national trend of the housing market recovery is happening in Bend and Central Oregon and he anticipates a 5 to 10 percent yearly growth.
At the peak of our growth, Central Oregon builders were building 1500 homes per year. But, last year, only 486 homes were built. This year, it is predicted that between 700 and 800 homes will be built.
People continue to move to Central Oregon for the active outdoor lifestyle and housing and real estate continues to be poised for a rebound.
Ferguson is a realtor in the Bend, Oregon area.