Is the Eugene real estate market in a buyer’s market or seller’s market?
Right now, it’s definitely a seller’s market out there. As we come to the end of the selling season, though, there are a lot of great opportunities out there for buyers who couldn’t find a home in the last six to nine months. So, even though we are technically in a seller’s market, homebuyers can still win.
Housing inventory is creeping up and there are a few more homes on the market now than there were three months ago. If you were out shopping earlier this year but have given up due to low inventory and high home prices, we expect that home prices will start to level off soon.
Interest rates are at historic lows, and it’s easier for buyers to qualify for loans. Fannie Mae recently increased their allowable debt-to-income ratio from 45% to 50%, which increases the amount of home you can buy and is great for the market.
With rates as low as they are and low inventory, we are still in a healthy market for buyers and sellers. Buyers can easily qualify for loans, which gives sellers more incentive to put their homes on the market, and home prices are still pretty good.
As a result, even though we are technically in a seller’s market, neither buyers nor sellers get too much of an advantage today.
If you have any other questions for me—or if you Duck fans would like a magnetic calendar for this year’s season—give me a call or send me an email. I would be happy to help you!