This summer, we’ve seen the real impact of rising costs on local home sales. In July, existing-home sales dipped 1.7% compared to June, though there’s been a slight increase of 0.7% year-over-year. With mortgage rates hovering near 6.6% and limited inventory, many buyers are finding it harder to take the next step—especially first-time buyers facing a median home price of $434,100. As someone who guides folks through the Salem, Aumsville, and Willamette Valley markets, I see firsthand how these trends shape our community. Understanding the landscape can help you make more informed decisions, whatever side of the transaction you’re on.
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