Of all of the graphs and statistics that I put together, this graph is the one that has me the most hopeful about where we sit here in the Rogue Valley for the state the real estate market. The blue line is the increase in the average wage in the Rogue Valley since 1998, and the red line is the increase in the average monthly mortgage payment.
I think most people would agree that the local real estate market was pretty healthy back in the early 2000's. The sharp spike that is so very apparent on this graph of the rapid increase in home prices, especially when compared to the wage increases, really emphasizes why the market had to adjust, and why there has been such a rapid increase in foreclosures.
But what I see now is that the adjustment has been made. And with the extremely low interest rates that we are seeing today, homes are actually more affordable than they were in 1998.
I have more statistics about Ashland Oregon Real Estate and Real Estate in all of Jackson County. Contact me for more details.
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