Greetings:
“U.S. existing-home sales rose +4.2% in February from the prior month to a seasonally adjusted annual rate of 4.26 million,” the National Association of Realtors announced. That was better than most economists had predicted at 3.2%. Most buyers and sellers realize that the wait game is over, and they are diving into the market because of need. People are realizing the mortgage rates are going to remain 6-7% with some exceptions based on whether sellers buy the rate down. NAR economists feel, “The real estate market is gaining momentum, and this should translate into stronger sales in 2025.”
Homeownership nationwide continues to go down currently at 61%, down from 66% just a few years ago. Also, many consumers decide to rent because of the high costs associated with owning a home. A new report from Realtor.com shows that the average homeowner in Oregon must work 12 days in order to make enough money to make their mortgage payments. We are reaching the perfect storm where most homeowners are being priced out of their home. In Douglas County the average monthly mortgage payment is $1,920 on a $337,500 mortgage according to NAR.
Oregon housing trends continue to improve with certain parts of Oregon growing faster than others. The state of Oregon grew by over 20% in population in the past 20 years and we are all facing inventory issues in terms of new housing and rentals. In February 2025 home prices in Oregon were up +3.2% compared to last year to $504,500 compared to $346,200 in Douglas County. The highest average sales price by area continues to be NW Roseburg at $616,900 with the Green area as the most affordable at $227,400.
New listings are up statewide to over 14,000+ with a 3 month supply available to the buyers to choose from. Since the beginning of the year in Douglas County, our listing inventory is at 258, which represents a +2.4% increase from last year. We also have a 3-month supply. This is positive for buyers since it gives them more properties to choose from. We are entering into our busy time of the year when people decide to sell which will bring about more listings. The Myrtle Creek area was the most active with over 28 new listings while SE Roseburg only saw 2 new listings.
As you know, Oregon and Douglas County continues to have a housing crisis with inventory not keeping up with demand. Many cities and counties are working to elevate what measure they can take to help meet this need. The City of Roseburg along with Douglas County adopted UGB land swap which would add land to the west of Hucrest, was appealed by some property owners in the Charter Oaks area to (DLCD). In late January, DLCD remanded it back to the city with some amendments. The city decided to appeal it to the DLCD which they expect to have a hearing in June. In the meantime, a bill was introduced by Rep. Virgil Osborne in the Oregon Legislature (HB 3921) authorizing the UGB Swap. If you would like to testify or offer written testimony in support of the bill, please let Rep. Osborne’s office know. It is important that we support this legislation to help our area have land to build on which will meet our housing needs now and in the future.
I want to encourage you to think about volunteering your time and talents to what you feel is your passion! REMEMBER, TO MAKE OUR COMMUNTIY BETTER, YOU NEED TO BE INVOLVED. (SHARE YOUR TIME AND TALENTS). Also, please keep all our Armed Forces men and women who are serving, our First Responders, and Veterans in your thoughts and prayers for remember our “FREEDOMS ARE NOT FREE!” GOD BLESS THEM AND GOD BLESS AMERICA!
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