I thought I'd put out a few market metrics of interest based on the current real estate market.
Reno Real Estate
It looks like the Reno real estate market is trying to correct more than it has in recent months. While the Reno median home price is down to a new (recent) low of $262,000, inventory is down 3% from one year ago, and July homes sold is up 37% from last July. Current Months of Inventory is at 14.0 months, down from July but still up 15% from August, 2007. If this trend continues, we may be able to more clearly see the market bottom (in pricing) on the horizon - albeit still several quarters away.
Sparks Real Estate
The Sparks market is tracking on the same course as Reno but with 11.9 Months of Inventory will likely hit the bottom…