April 2026 shows a Bend real estate market that is adjusting—not collapsing. Pricing has come off noticeably from a year ago, but buyer activity remains stable and, in some areas, quietly improving. The result is a more balanced market where properly priced homes are still moving, while aspirational pricing is getting corrected.
Wondering what to expect from the housing market in 2026? You're not alone. For the past few years, affordability has been the biggest obstacle between buyers, sellers, and their next move. High mortgage rates, limited inventory, and rapid price growth forced many households across Central Oregon to sit on the sidelines.
The good news is this: conditions are finally shifting. In 2025, affordability improved to its best level in three years, and most economists agree that progress should continue into 2026. That outlook is based on three fundamentals that matter everywhere—including Bend, Redmond,
The May data has been published and for those who are familiar with Bend Oregon real estate trends, the increase in the numbers of active listings is significant. May traditionally has been a month with a surge in new listings with sellers getting ready for the peak summer selling season. However, in May 2025 there was a huge 42% increase in active inventory year over year. With these numbers, Bend is now trending close to a balanced market with months of supply approaching 5 months.
When May 2025 is compared with May 2024, the following changes can be noted for Bend single family home sales on less than an acre:
The Bend real estate market has been in transition since Covid ended, with the demand for homes remaining strong, but rising mortgage interest rates greatly impacting the buying power of would-be homebuyers. It has been three months since we last looked at the Bend luxury homes. During this time, there have been changes with fewer new listings, more homes on the market, and fewer sales. All four categories we look at with high end home sales are up significanty with available inventory.

We are pushing closer to a neutral market with the highest prices where there is 5 to 6 months of inventory. We are not there yet, but there has been significant change over the past twelve months where higher priced homes are slower to sell.