Greetings:
In a recent hearing before the House Committee on Financial Services, former NAR President, Kevin Spears, testified about the status of the housing market in America. He pointed out that, “The American Dream is slipping away. Even though buyers want to buy a home, over 56% of them, can’t.” On the supply side, there were more homes to purchase in 1995 than today, even though more Americans are wanting to buy homes in 2025. In July 2007, there were over 4,040,000 homes available for sale. 18 years later, there are only 1,520,000. Housing construction peaked in 2005 with over 2 million starts compared to just 1,400,000 today.
Mr. Spears offered some solutions that Congress needs to consider: 1-removing the tax penalty on moving; 2-reform the FHA rules that restrict buyer choice; 3-improve mortgage assumably to enhance affordability; 4-reform Federal programs and requirements to cut through red tape on regulations that currently hamper building and development; 5-Incentivize state and local action to unlock housing supply; 6-improve financing for housing, including innovative housing types; 7-leverage suitable federal public lands for housing development; 8-encourage local and state governments to reduce the costs of home insurance risk; 9-use any proceeds from the potential sale of Fannie Mae and Freddie Mac on housing incentives. In conclusion, he suggested that “the only way the housing crises can be solved is cooperation at all levels. There is not a one fix, it will take all of us engaged in the housing industry to help restore the American Dream.”
The Oregon market is shifting to a buyers’ market as inventory has risen to 6.16 months. The median priced home in Oregon is now $491,500, which is down -1.7% and listings are up +12.9%. Home Sales statewide are down by -2.4% as well.
Contrary to statewide, our residential trends in Douglas County saw new listings down by -20.4%, which is good news for sellers. It means there are less homes to choose from and buyers that want to buy have limited inventory. It is common for sellers to take their homes off the market during the winter months and put them back on the market in the spring and summer. Pending sales were also down for the month of November compared to October 2025 by -22.7%, which means we will have fewer closed sales during the coming months. Year-to-date pending sales are down slightly -2.4%. The good news is that closed sales are up +2.0% in November from October 2025 but are down -4.9% year-to-date. There are several reasons such as affordability, high interest rates, and lower inventory. Total marketing time is also down by -31 days compared to last month, so properties that are priced right are selling quickly. Douglas County’s inventory is down to 5.5 months compared to 5.9 months at the start of this year.
The average price per square footage of homes now selling is $220, which is up compared to last month when it was $210. Year-to-date, the average sales price has increased marginally +0.1% from $354,500 in 2024 to $355,000. In November 2025, there were 25 homes sold in the $200,000-$300,000 price range and 27 sold in the $300,000-$400,000 price range, 15 selling in the $400,000-$500,000 price range, and 1 selling for over $1,300,000.
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! WE ALSO, WANT TO WISH YOU AND YOUR FAMILIES A VERY MERRY CHRISTMAS AND HAPPY NEW YEAR! YOU ARE THE BEST.
Responses