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’.