September 2020 Market News
Market Profile Report – Reno/Sparks Below is an update on the Reno/Sparks real estate market. Our analysis focuses on single family home activity in the region for the month ending September, 2020. Market-Profile
Real Estate Continues to Show Unprecendented Strength This Year
The 2020 housing market has surpassed all expectations and continues to drive the nation’s economic recovery. The question is, will this positive trend continue throughout the rest of the year, especially given the uncertainty around the current health crisis, the upcoming election, and more? Here’s a look at what several industry-leading experts have to say.…
Do you need to know more about forbearance and mortgage relief options?
Earlier this year when the nation pressed pause on the economy and unemployment rates jumped up significantly, many homeowners were immediately concerned about being able to pay their mortgages, and understandably so. To assist in this challenging time, two protection plans were put into place to help support those in need. First, there was a pause placed…
The #1 Reason Not to Wait to List Your House for Sale
Many industries have been devastated by the economic shutdown caused by the COVID-19 virus. Real estate is not one of them. Mark Fleming, Chief Economist for First American, just reported: “Since hitting a low point during the initial stages of the pandemic, the only major industry to display immunity to the economic impacts of the coronavirus is the housing market. Housing…
Market Report – DOM Median Price
Market Report – DOM and Median Price – Reno/Sparks Home. It has never been so important. And, the strong demand for housing in the Reno/Sparks region is proving this statement true. “Median” means “in the middle”, so half of homes sold for more and half sold for less. According to the Reno-Sparks Association of REALTORS,…
Is the Economic Recovery Beating All Projections?
Is the Economic Recovery Beating All Projections? Earlier this year, many economists and market analysts were predicting an apocalyptic financial downturn that would potentially rattle the U.S. economy for years to come. They immediately started to compare it to the Great Depression of a century ago. Six months later, the economy is still trying to…
Actives vs Solds – Reno/Sparks NV
The report below will be sent automatically on Friday at 4:00pm, from you, to any of your Leads and Contacts that have been added to the “Market Report – Active Vs. Sold – Reno/Sparks” list in Boston Logic. You only have to add your people to this list once, and future Active Vs. Sold report emails will be sent to…
Homebuyer Traffic is on the Rise
One of the biggest surprises of 2020 is the resilience of the residential real estate market. Lawrence Yun, Chief Economist of the National Association of Realtors (NAR), is now forecasting that more homes will sell this year than last year. He’s also predicting home sales to increase by 8-12% next year. There’s strong evidence that he will be right. ShowingTime, a leading…
Market Report – Inventory and Percent of Sales – Reno/Sparks
Our local housing market is hot, right along with the end of the summer weather. Here are the latest statistics for the single-family home market in the Reno/Sparks area: Days or Months of Inventory is the amount of time it would take to exhaust all available homes for sale if no additional homes came…
The Top Reasons People are Moving This Year
Today, Americans are moving for a variety of different reasons. The current health crisis has truly re-shaped our lifestyles and our needs. Spending extra time where we currently live is enabling many families to re-evaluate what homeownership means and what they find most important in a home. According to Zillow: “In 2020, homes went from the…