IHS Global Insight recently released their numbers on home prices valuations. As the chart above shows, as of 12/31/09 Bend home prices are pretty much fairly valued. 
It’s truly amazing to consider just how big the local bubble was. It’s taken about a 50% decline just to bring prices back to normalcy.
Make no mistake, however, this massive decline has only brought prices back to fair value. They are not yet undervalued. But given a bit more time, they may still get there.

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