Author: Hans Afshar

As a REALTOR® working here in Salem and the Willamette Valley, I keep a close eye on the latest housing trends to help my clients make informed decisions. Recently, we've seen single-family housing starts drop 9.9% from June and 15.7% compared to last year, with total starts down 12.4%. Every region across the country experienced declines, and the Northeast led the way. Still, there’s a positive sign: building permits are up 5%, hinting that buyer interest and future demand remain, even as high mortgage rates and costs continue to shape the landscape. Understanding these shifts is key to navigating our local market with confidence.

Looking ahead to the next few years in our local market, it looks like the 30-year fixed mortgage rate is expected to hover in the mid-6% range through 2028. That means we probably won’t see significant rate drops soon. For those of you thinking about timing your move or investment, home prices are projected to rise at a modest pace, and we should see some relief as more inventory comes on—making competition a bit less intense. As for refinancing, it usually only makes sense if you’re switching loan types or tapping into your home’s equity. If you have questions about how these trends might impact your plans in Salem, Aumsville, or anywhere in the Willamette Valley, I’m always here to help you navigate the market with confidence.

Older homes near Bush’s Pasture Park can offer beautiful character and a convenient South Central Salem setting, but they deserve careful evaluation. Before writing an offer, arrange qualified inspections for major systems, drainage, moisture, and past alterations. Review permits and property records, especially if the home is in a historic district where proposed changes may require additional development review. Finally, experience the neighborhood at different times and consider events or permitted sound near the park. A thoughtful process helps you understand renovation options, maintenance needs, and the lifestyle before moving forward.

Many folks are hoping that waiting until fall will make homes more affordable, but the numbers tell a different story. Right now, the income needed to purchase a median-priced home in the U.S. has climbed to over $120,000—almost double what it was not long ago. With mortgage rates hovering around 6.5% and prices still on the rise, sitting on the sidelines won’t necessarily lead to better deals. Typical down payments range from 6-9%, though there are still options for low or even zero down if you know where to look. As someone who guides buyers and sellers across Salem, Aumsville, and the Willamette Valley, I’ve seen firsthand that thoughtful preparation makes a real difference in this market. Whether you’re considering your first move or thinking about your next one, being ready is your best strategy.

Excited to share an opportunity in South Salem: 3946 Tayside St S is now available at $619,900, featuring 3 bedrooms and 2 bathrooms. As a REALTOR® serving Salem and the surrounding Willamette Valley, I enjoy connecting clients with homes that fit their needs and lifestyle. If you’re exploring the local market or interested in seeing this property, the open house is a perfect way to get a feel for what makes this area special.

Across most major U.S. cities, sellers are increasingly accepting offers below their original asking price. In fact, buyers in 38 out of the 50 largest metros are securing homes for less, thanks to a mix of higher mortgage rates and a growing number of listings. The trend stands out in states like Florida and Texas, where discounts range from 2% to 5%. On the flip side, places like San Francisco, New York, and Boston are still seeing offers above list price, driven by limited inventory and high demand. Even though these shifts are happening nationwide, each local market has its own unique story. As someone dedicated to guiding clients through the complexities of buying and selling, I keep a close eye on these trends to provide the best advice for Salem, Aumsville, and the Willamette Valley.

In July, median mortgage payments dipped to $2,175, offering a welcome boost to homebuyer affordability. This change was partly thanks to wage growth outpacing increases in payments—a trend I’ve been watching closely here in Salem and throughout the Willamette Valley. Of course, affordability still varies depending on where you’re looking, the type of loan, and even among different communities. As your local Salem REALTOR®, I keep an eye on these shifts so buyers and sellers can make informed decisions in a market shaped by interest rates, prices, and available inventory.

The latest S&P/Case-Shiller National Home Price Index shows a 0.13% increase for June, with home prices up 1.5% year-over-year. However, with inflation at 3.5%, the real value of homes has actually slipped. Regional differences are clear—Chicago saw a strong 6.9% annual rise, while Seattle experienced a 2.0% decline. All of this is happening as mortgage rates hover around 6.5%. As someone who works every day with buyers and sellers here in Salem and throughout the Willamette Valley, I’m always keeping an eye on these shifts and what they mean for our local market. If you’re curious about how national trends might play out closer to home, let’s connect.