Housing market ‘softening’ in Jackson County

Medford, Ore — The housing market has been booming the last few years but realtors are seeing a cool off head into the holidays.

Realtors say the market for homes is ‘softening’. Meaning homes for sale are on the market longer, and buyers are spending more time looking for better deals.

On average home prices in Jackson County increased by $12,000 compared to last year, a slower rate than years before.

“Best thing is to be informed, do your homework first, most mortgage brokers and realtors, are gonna want to sit down with you and what your plans are, what you want, it’s a good time,” said Claudette Moore with Windemere/Van Vleet Associates.

At around 5% mortgage rates are also at their highest in years.

Moore says those rates are still well below what would be considered a ‘high interest rate’.

Matt Jordan is the Chief Meteorologist for KOBI-TV NBC5. Matt joined the NBC5 weather team in 2014 after a year as a reporter and anchor in Alexandria, Louisiana. His experience with the severe weather of the Deep South and a love of the Pacific Northwest led him to pursue a certification with Mississippi State University as a Broadcast Meteorologist. You can find Matt working in the evenings of NBC5 News at 5, 6 and 11 as well as online. Matt also has a degree in Journalism from the University of Oregon. In addition to being passionate about news and weather, Matt is a HUGE Oregon Ducks fan. When not rooting for the Ducks or tracking down the next storm over the Pacific, Matt can be found outdoors in the Oregon wilderness with his wife and their German Shepherd named Stanley.
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