Market Report – Reno/Sparks Inventory
Our local housing market has good news for buyers with another monthly increase in inventory to help meet the sustained high demand. Here are the latest statistics for the single-family home market in the Reno/Sparks area.
As of August 2nd, 2021, there were 415 homes available for purchase which is an increase of nearly 40% over last month, and the fifth month of increased inventory. Although standing inventory is down 25% compared to August of 2020, today’s inventory numbers don’t necessarily mean fewer homes are being listed or sold. Actually, we have had more sales this year than last year at this time. Demand for homes that are coming to market is one of the biggest causes for the low inventory numbers that we are seeing in this report.
