Signs of a Real Estate Rebound?
Occasionally, it’s fun to try to sneak through a positive sounding post, or, at least, one with a positive tagline–amidst all the negativity (No Rebound Without Jobs, Economic Forecast in Bend, and Notices of Default Skyrocket). If nothing else, it’s a chance to post some nice fall photos of Central Oregon.
Recent Real Estate Trends
In recent months, there have been some subtle indications of a bit of a real estate recovery. We’ve seen an increase in home mortgage applications, a slight “surge” in new construction in September (up 15% from August), and some regional strengths (Ohio!?). Nothing earth-shaking, but still positives.
A “Marketwatch” story by Amy Hoak points out that sought-after hotspots like North and South Dakota,
Wyoming, and Nebraska appear to offer the strongest markets. I guess this represents the aforementioned “rebound.” Though, I’m not sure who wants to live there.
In fact, the strongest market in the country (with anticipated appreciation of 5.6%) is forecast to be Bismarck, North Dakota.
A friendly city of around 60,000 people; it’s set on the east bank of the Missouri River. One slightly scary fact . . . he coldest month is January, with a 24-hour average of 10.2 °F. Yep, you read that right!
On more positive notes . . . Leslie Bibb
hails from Bismarck; also, Bismarck proudly holds the record for most snow angels made in one place . . . 8962.
Not in Oregon
Unfortunately, the ‘rebound” is not yet happening here. In fact, the nation’s weakest markets are in the west–Oregon, Washington, Nevada, and portions of California.
For 2012, Bakersfield, CA is slated to be the worst performing city in the country; much of the problem due to the escalating number of foreclosures.
Be thankful that we’re not in Bakersfield or Bismarck . . . search for homes in Bend Oregon.