“The lack of inventory has been the primary driving factor for increasing prices,” said Doug McIntyre, 2018 RSAR President and REALTOR®. “Other indicators in the market are strong. Lending practices are sound, FICO scores are holding, there’s just no inventory and that continues to drive pricing and frustrate buyers.”
- The June median price at $385,000 is up 3% from May and up 16% from a year ago.
- June unit sales at 572 are down less than 1% from May and down 24% compared to
- June new listings are down 4% at 754 compared to May and down 11% from one year
- The Reno market is a seller’s market, at 1.6 months supply of inventory. Months supply
of inventory is the time it would take to exhaust the active inventory at the current rate