What Buyers Can Expect in the Next 6 Months

As we move through the year, the real estate market will continue to evolve, and buyers need to be prepared for what’s to come. Here’s a look at what you can expect in the next six months in the housing market.

1. Higher Home Prices in Popular Markets

In the coming months, expect to see home prices continue to rise, particularly in desirable areas like Eugene. While inventory levels are low, demand remains high, which is expected to keep home prices elevated. Buyers should be ready to act quickly if they find a property they love, as competition for homes will likely remain fierce.

2. Mortgage Rate Fluctuations

Mortgage rates will continue to fluctuate, which could impact your purchasing power. While rates are expected to remain relatively high compared to the past few years, they could experience some volatility. Buyers will need to stay on top of the latest rate trends and adjust their budgets accordingly.

3. Competitive Bidding Wars

Given the high demand for homes and low inventory, competitive bidding wars will likely continue in many markets. Buyers will need to be prepared for multiple-offer situations and should work closely with their real estate agent to develop strong offers. Be ready to make a competitive bid and stay flexible with contingencies if you want to win a property.

4. Limited Inventory, But More New Listings Coming

Although inventory is expected to remain tight, there could be an increase in new listings in the coming months as sellers take advantage of favorable market conditions. However, the inventory shortage may persist in certain price ranges, especially in sought-after neighborhoods. Buyers should be prepared to act quickly when a desirable property hits the market.

5. Continued Focus on Suburban and Rural Areas

As remote work remains popular, suburban and rural areas are expected to see continued interest from buyers seeking more space and a quieter lifestyle. If you’re looking for a home outside of Eugene’s city center, you may find more opportunities as demand increases in these areas.

6. New Construction Projects

With the ongoing housing shortage, more new construction projects are expected to break ground in the coming months. While it may take time for new homes to be completed, this could provide buyers with additional options in the future. Buyers interested in new construction should keep an eye on upcoming developments.

7. More Focus on Sustainability

Energy-efficient homes, solar panels, and eco-friendly features will continue to be in demand as buyers prioritize sustainability. As more people become conscious of their environmental footprint, homes with green features will likely see an increase in demand, making them a good investment for both buyers and sellers.

In conclusion, the next six months will bring continued challenges for buyers, with high home prices, low inventory, and competitive bidding. However, there will also be opportunities for those who are prepared to act quickly, work closely with an experienced agent, and stay informed on market trends.