MEDFORD, Ore.- In 2017 $1.2 billion worth of homes were sold in Jackson County. Right now interest rates are hovering around 4% for a conventional 30 year mortgage. But the bad news is there isn't enough inventory to meet the demand.
Realtors are preparing for housing prices to continue to rise in 2018. This is making it harder for buyers to purchase a home in the price range they can afford.
Colin Mulane with the Rogue Valley Association of Realtors says, "It's coming to a loggerhead, the tenants are frustrated, buyers are frustrated, and there is no easy answer it's difficult to interfere in the market that actually sounds the problem."
In 2007 the average home price in the valley was around $265,000. It took a big dip in the last decade getting as low as $165,000 in 2012. In the last five years, previously owned home prices have risen by 60%. Today the average home in the Rogue Valley will cost you $265,000.
To date, the Rogue Valley Association of Realtors say it's granted $125,000 to 125 different home buyers in the Rogue Valley.
To find out how to apply you can visit their website roguevalleyrealtors.org