BEND AREA RANKS 10TH IN HOME PRICE INCREASE
The Bend area places 10th nationally on a list of metro areas with the greatest annual rise in home prices, according to a report released by the Federal Housing Finance Agency. The report shows that home prices in the area rose 11.25% in fourth quarter 2015 over the fourth quarter in the previous year.
Over the last 5 years, home prices have grown an incredible 28.51% in the Bend metro area, comprised of all of Deschutes County. Nationally, prices have also been increasing, at an average of 4.9%, according to the report.
“The key drivers of appreciation over the last few years — low inventories of homes available for sale and improvement in labor markets — likely played a role in driving up prices during the quarter,” FHFA Principal Economist Andrew Leventis said in a February 26th press release.