Housing demand in the Eugene and Springfield market area has slowly picked up — but only if you’re in the right price range. Homes priced between $350,000 and $600,000 have seen increased buyer interest and a slight uptick in sales compared to last year. The $600,000 to $750,000 range has remained relatively flat, showing little change.
From $750,000 and up, particularly above $950,000, the market has become quite challenging, with a larger-than-normal inventory of homes for sale. Many of these higher-end properties have been sitting on the market with limited interest, few sales, and multiple price reductions.
Mortgage interest rates have remained flat, but we could begin to see some softening in the first quarter of 2026 if Federal Reserve rate reductions become a reality. In the price ranges where demand is strong, inventory levels have declined; as prices increase, so does the available inventory.
One thing to remember is that housing markets typically decline much faster than they recover. We’re at a pivotal point right now — the market could begin the long road upward, remain flat, or decline again. If history repeats itself, look for a trend of improving home sales beginning next year.
The following is a short article from HousingWire.
Housing inventory has been the single best story for the housing market in 2025, but as mortgage rates fell, demand has picked up just a tad, and this has cooled down the inventory growth so much that it has been cut in half percentage-wise in 2025.
Our housing inventory data showed 33% year-over-year growth earlier in the year and now it is down to 16.24%. I pegged this shift back in mid-June, and now that we are in mid-October with rates near the lows for 2025, this seals the deal for 2025. Unless some crazy market event happens in the next four to six weeks, we can expect the seasonal decline in housing inventory soon and start to get ready for 2026. I had anticipated that we would have seen a new high in inventory recently, but that call hasn’t been correct yet and I am running out of time before the seasonal decline.
In recent years our housing inventory typically peaks in October or November, but this year it looks like it will have peaked in the first week of August. As mortgage rates fell, demand picked up and the supply-and-demand dynamics shifted. You would have never seen this coming unless you are looking at the weekly housing data. Have an awesome week!
Stay Healthy! Stay Safe! Remain Positive! Trust In God!
Sincerely,
Galand
galand@galandhaas.com
541.349.2620