Lack of inventory driving local home prices up

Medford, Ore.- Home buyers may have a hard time finding the home of their dream in southern Oregon. Home inventory is at its lowest level since the National Association of Realtors started tracking data in 1999.

The lack of inventory is driving prices up and means buyers are more competitive.

“We’re just seeing kind of a slowdown in buyer activity only because they’ve seen everything,” said Robin Simpson, an agent at John L. Scott in Medford. “They’re waiting for the next thing to go on the market. And when it does, it’s like piranhas.”

The demand is driving up home values. The median sales price of a home in southern Oregon is now $228,000. That’s up $20,000 from one year ago.

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