AGENT MLS HOME FINDER

The Southern Oregon real estate market has been overall one of the strongest and most resilient in the face of the nationwide economic downturn. From the initial problems with the sub -prime mortgage crisis to the more substantial issues dealing with unemployment and negative growth, Southern Oregon and most of its major cities have remained somewhat constant and steady. While it is entirely possible that this strength is a result of the diversity or resilience of the real estate in Southern Oregon, or a testament to responsible lending practices on a part of the banks in the region, it is also possible that this could be an area that responded particularly well to the American Recovery and Reinvestment Program, which will expire at the end of November.

For the time being, however, it seems that Southern Oregon home sales are a bright spot in the Pacific Northwest, with the Southern Oregon Mail Tribune reporting an increase in home sales for seven months in a row. According to the September 5, 2009 article written by Greg Stiles, “more than 500 single-family residences exchanged hands this summer in Jackson County as real estate activity picked up by nearly 27 percent over the previous year…For the seventh straight month, home sales increased by double digits year over year. For the 90 day period ending Aug. 31, Southern Oregon Multiple Listing Service reported 514 single family units sold compared to 405 for the same period in 2008.”

Real estate in Southern Oregon and Oregon real estate at large seemed to be less dependent on foreclosures and short sales in the month of August, at least according to an article in the Portland Tribune. According to the September 10, 2009 article by Steve Law, “The Portland area had the 75-th highest home foreclosure rate in August among the nation’s 205 largest metropolitan areas, according to RealtyTrac, an Irvine, Calif., company that sells foreclosure data online. Foreclosure filings for Portland-area homes fell 19 percent from July filings…Overall, Oregon had the 15th highest home foreclosure rate among the states in August, down from 10th highest in July, RealtyTrac reported…”