Category: Latest Posts

Recently, we’ve seen US consumer confidence dip to a seven-month low—an important trend to keep in mind if you’re navigating real estate decisions here in Salem or throughout the Willamette Valley. In mid-Q3, people generally felt pretty positive about their current situations, but their outlook for the next few months—especially around income, business, and job stability—turned more cautious. The present-conditions index rose by about 7 points to 121, while the expectations gauge fell roughly 6 points to 68. That’s a threshold often associated with recession risk. At the same time, early Q3 saw employers cut 23,000 jobs and unemployment tick up to around 4%, mostly because more folks left the workforce rather than hiring picking up. Still, despite the softer confidence, homebuying expectations barely slipped and even continued rising in mid-Q3, with about 61% of consumers anticipating higher interest rates. With federal policymakers holding rates steady and markets not expecting much near-term relief, it looks like borrowing costs will remain elevated for buyers through year-end. As someone who guides clients through these shifts every day, I’m always here to help you interpret what these trends might mean for your next move.

We're seeing a notable shift in the housing market: for the four weeks ending August 23, new listings in the US edged up by 0.4%, and total homes for sale increased by 0.5%, marking the highest inventory we've seen since early in the second quarter. At the same time, pending home sales dropped by 1.1%—a six-month low—as many buyers are taking a step back, weighed down by affordability challenges, even as options expand nationwide. The median sale price has inched up 1.9% year over year, now topping $400,000, and average mortgage rates remain close to 7%, just shy of a 13-month high.

What does this mean if you’re shopping for a home in Oregon? More homes on the market and less competition have created more favorable conditions for buyers. In many markets—including here in the Willamette Valley—active buyers have greater room to negotiate for price reductions or seller concessions. According to experts, homes that have been listed for several weeks are often where buyers can find the most negotiating power, while sellers see the best results by setting realistic prices rather than holding out for last year’s highs. As someone who guides clients through these changing dynamics in Salem and beyond, I know how important it is to adapt your strategy as the market evolves.

As someone who’s had the privilege of guiding buyers across Salem, Aumsville, and throughout the Willamette Valley, I’m always watching for resources that make homeownership more accessible. Oregon offers a wide range of down payment assistance options—grants, forgivable loans, deferred-payment loans, and matched savings programs—all aimed at reducing upfront costs for buyers. There’s a statewide program designed for first-time and first-generation buyers that can provide up to $60,000 for down payment and closing costs, typically based on income limits and completing education requirements. Other statewide help includes up to $60,000 for veterans, wildfire recovery assistance up to $150,000, and matched savings accounts that can be put toward your down payment. Local programs add even more flexibility, with possibilities like repayable second loans based on purchase price, interest-free help up to $20,000, and city programs offering loans from $25,000 to $100,000. Since these programs can change and funding sometimes runs out, it’s a smart step to review current details and requirements before planning your next move. It’s all about finding the best fit for your path to homeownership.

Here’s a quick update on Salem’s housing market this month. Homes are taking a bit longer to sell, and the number of available houses remains similar. Fewer homes are changing hands than last year.

As we move through early Q3, it’s interesting to see US existing-home sales dip 1.7% month-over-month, but still come in 0.7% higher than last year. Even a slight uptick in completed transactions compared to last summer signals steady buyer activity, despite ongoing market shifts. Median existing-home prices have now climbed for 37 straight months, reaching $434,100 and giving many homeowners in our communities extra equity to keep an eye on. Inventory remains tight, with 1.54 million homes on the market—a 1.9% monthly and 0.6% yearly decline—so close attention to new listings remains essential for buyers. Nationally, housing affordability has improved even as prices rise, reminding us that preparation and timing are key when the right opportunity appears. With 30-year fixed mortgage rates averaging in the high 6% range, any future rate relief could further boost buyers as we move through the summer season. As a Salem-based REALTOR® with a focus on helping buyers and sellers in the Willamette Valley, I’m always tracking these shifts closely to help you make informed decisions.

The idea of 'price stability' often gets tossed around, but in reality, the US economy paints a more complex picture. As technology becomes more affordable—think supercomputers now fitting in our pockets—we see other things, like hotel rooms, sports tickets, and college tuition, steadily getting pricier. That’s because as our spending habits shift, some prices naturally go up while others fall. No central bank policy can truly balance these countless moving parts, with global factors and local choices shaping what we pay. If our dollar was steadier, we might see more investment move away from inflation hedges, lowering some prices but driving up costs for rare or limited goods. The real takeaway? Prices are always changing, and that’s often a sign of economic growth—not decline. For those of us navigating the real estate market in Salem and the Willamette Valley, understanding these shifts helps us make smarter choices, whether buying or selling a home.

We're starting to see a shift in the market—buyers are finally regaining some negotiating leverage. As inventory grows and seller dominance eases, there’s more room for thoughtful negotiations and less pressure to make snap decisions. Builders are stepping up with incentives, mortgage-rate buydowns, and price adjustments to help hesitant buyers take the plunge. More available homes in our area mean you have time to compare your options, rather than feeling rushed into an offer. Of course, higher mortgage rates are still a hurdle, so many buyers are proceeding with caution. Navigating these changes takes a careful approach, and it’s my goal to help you make the most of the flexibility and opportunities that are emerging in the Willamette Valley.