▶️ Low inventory hampering Central Oregon housing market

By HANNAH SIEVERT
CENTRAL OREGON DAILY NEWS

COVID-19 has affected nearly every industry in one way or another and Bend’s housing market is no exception.

The Central Oregon Association of Realtors released market data on Twitter this week showing housing inventory is down 27% compared to this same time last year.

Broker Teri Axmaker with the Fred Real Estate Group said many people are still interested in moving to Central Oregon, even with the pandemic.

But with construction slowed due to COVID-19 restrictions and fewer sellers right now, there aren’t as many options for buyers.

“What I’m experiencing with my clients is they’re prepared to move and we’re out shopping, but the homes — with the low inventory — you can’t find what you’re wanting,” Axmaker said.

Because housing is competitive, Axmaker said buyers are moving quickly on sales and sometimes settle for houses that don’t exactly match what they want.

Axmaker hopes there will be more housing inventory in the near future.

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