WalletHub names Bend 2nd fastest growing city in the US

61794 Tam McArthur Loop Bend, OR 97702
Presented by Tebbs & Little Group | Offered at $3,899,000 | MLS# 220102501

From Central Oregon Daily

According to WalletHub’s recent report on 2020’s Fastest Growing Cities in America, Bend ranked second next to Fort Myers, FL.

WalletHub is a personal finance website that compares 515 US cities across 17 key metrics to determine where the most rapid local economic growth occurred over a period of seven years.

The factors considered in the release of this report ranges from population growth to college-educated population growth to the unemployment rate decrease.

Furthermore, WalletHub produced a separate ranking by city size.

Bend topped the report’s rankings for “mid-sized” cities, ahead of Meridian, Idaho, Enterprise, Nev. and Frisco, Texas.

Economic Growth in Bend (1=Fastest-Growing; 258=Avg.):

  • 11th – Population Growth
  • 43rd – Median Household Income Growth
  • 1st – Job Growth
  • 263rd – Poverty Rate Decrease         
  • 10th – Regional GDP Growth
  • 163rd – Unemployment Rate Decrease
  • 1st – Growth in Number of Businesses
  • 11th – Working-Age Population Growth
  • 87th – Median House Price Growth

Full article on Central Oregon Daily


Builders Ramp Up Construction to Meet High Demand

26480 SW Wilken Ln West Linn, OR 97068
Presented by Kristen Kohnstamm | Offered at $5,750,000 | MLS# 20126915

From Realtor Magazine

Homebuyers continued to surge the new-home market that explains why builders increased the construction of single-family homes in August. The pace of single-family starts last month reached its highest level since February, just before the COVID-19 pandemic ignited across the U.S.

Based on the report from the Commerce Department, single-family rose by 4.1% in August to a seasonally adjusted annual rate of 1.02 million. Meanwhile, homebuilder sentiment last month rose to an all-time high as builders felt optimistic about current and future sales.

However, rising lumber costs could threaten to price more homebuyers out of the new-home market over the coming months, according to National Association of Home Builders’ Chairman Chuck Fowke and Chief Economist Robert Dietz. Low mortgage rates are helping to offset the rising costs somewhat.

Overall, housing production in August dropped 5.1% due to a double-digit decrease in the multifamily sector. Construction of apartment buildings and condos plunged 22.7% to an annual pace of 395,000 units. “Total housing starts were down in August on a decline for multifamily construction, with multifamily 5+-unit permits now down 8.3% on a year-to-date basis,” Dietz explains. “But low interest rates and solid demand are spurring single-family construction growth, which makes up the bulk of the housing market. Single-family permits continue to rise as well and are now up almost 7% on a year-to-date basis.”

Regionally, combined single-family and multifamily housing starts were highest in the Midwest, increasing 13.6% on a year-to-date basis, followed by a 5.4% increase in the South and a 3.8% increase in the West. Housing production, meanwhile, was 4.5% lower in the Northeast last month.

Full article on Realtor Magazine