Bend-Redmond home price rise No. 7 in U.S.
The Bend-Redmond area continues to see home prices rise at one of the fastest rates in the nation, new federal figures out Wednesday show.
The Bend-Redmond metro area (defined as all of Deschutes County) saw home prices rise 10.99 percent in the year ended Sept. 30, according to the third-quarter report from the Federal Home Finance Administration, which includes both purchases and refinance mortgages in its home price index.
The list was topped by the 12.94 percent price rise over the past year in Port St. Lucie, Florida, and the Seattle-Bellevue-Everett, Washington area was No. 2, at 12.23 percent home-price growth over the past year.
The Bend-Redmond metro area saw a 4.66 percent home price rise in the third quarter, and a five-year increase of 79.6 percent, which tops the top 20 metro areas ranked by yearly price increases.
Nationally, home prices rose 1.5 percent in the third quarter and 6.1 percent over the past year.
“Our data indicate that the deceleration in home price growth that we observed in late spring proved to be short-lived,” said FHFA Supervisory Economist Andrew Leventis. “While price growth in select markets has cooled somewhat, for the U.S. as a whole, the third quarter showed no evidence of a widespread slowdown.”
