Bend housing inventory drops

The number of single-family homes for sale in Bend is down about 50 percent from its peak.

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Bend’s real-estate market is seeing a dramatic improvement, with only 785 single-family homes for sale this month compared to 1,600 in August 2007.

“That’s absolutely good news,” said Bill Watkins, a California economist who studies the Central Oregon economy. “A decline in housing inventory is a precondition for a recovery.”

It’s particularly beneficial for sellers, as less inventory generally translates into higher asking prices as long as demand stays strong, which it appears to be doing.

Read the full story at The Bulletin.

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