June 2018 Full Market Report by Reno Sparks Association of Realtors
Posted by Jenna Heisser on
“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 2017. - June new listings are down 4% at 754 compared to May and down 11% from one year
ago. - 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…
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