This year started off slower than most years. The market so far in 2023 is down significantly from last year. From January 1 of 2023 to June 13th Union county has a sold $55 million in total sales as compared to last year this time was a total of $102 million in sales. In Umatilla county the total sales from the same year to date is $182 million as compared to $274 million in sales. Baker county total sales from the same time frame is $64 million as compared to $101 million. In Wallowa County the totals sales from the same timeframe is $31 million as compared to last years sales of $45 million.

The interest rate increases are having buyers hold back in making purchases. The buyers that can wait out the market for better interest rates are setting on the sidelines and watching the market. Buyers that have to buy are still in the market that has a limited of supply. Sellers that made their purchase with a much lower interest rates are not as eager to sell unless they are needing to do so.