EUGENE, Ore. - Real estate inventory in Eugene is low - not because of a lack of activity, but due to the pace of sales.
"New listings rose last month but not at the same pace as sales," said Matt Powell, owner of Windermere Real Estate
Powell said there are some key factors at play in the current real estate market.
"Improvement in the overall economy, the unemployment numbers have continued to slightly get better and that trickles down to home buyers and home sellers and the overall consumer confidence of buying a home," he said.
Where the home is located makes a difference is rising prices.
"Anywhere where there was a lot of building in the last 10 years during the boom, prices probably aren't going to rise any time soon because it's supply and demand issue," Powell said.
Still, Powell said the market is stabilizing.
The difference now is liberal lending is a thing of the past. "You need a good down payment, you need good credit, you need good income," said Powell.
If you don't have that down payment, Powell said renting is the way to go - but you will pay a price.
In Eugene, a rent payment can be just about the same per month as a mortgage payment, especially around the University of Oregon.