In the Reno-Sparks market sales of housing is strong but challenged by low inventories of available homes for sale. With 2 days left before the end of March we have 405 single family homes sold so far this month. This is below the 556 homes that sold in March 2016. In February 2016 we had 368 units sold with a slight increase in February 2017 to 374 units. The bigger story is the median price. In March 2016 the median price was $296,000. We will definitely see this higher in March 2017 after seeing it rise to $320,000 in February 2017. If you are looking to buy or sell the Shocket Team can help. Reno-SparksRealEstate.com
he success of the housing market is strongly tied to the consumer’s confidence in the overall economy. For that reason, we believe 2017 will be a great year for real estate. Here is just a touch of the news coverage on the subject.
“Consumers’ faith in the housing market is stronger than it’s ever been before, according to a newly released survey from Fannie Mae.”
“Americans’ confidence continued to mount last week as the Bloomberg Consumer Comfort Index reached the highest point in a decade on more-upbeat assessments about the economy and buying climate.”
“Confidence continues to rise among America’s consumers…the latest consumer sentiment numbers from the University of Michigan showed that in March confidence rose again.”
“U.S. consumers are the most confident in the U.S. economy in 15 years, buoyed by the strongest job market since before the Great Recession. The survey of consumer confidence rose…according to the Conference Board, the private company that publishes the index. That’s the highest level since July 2001.”
Ivy Zelman, in her recent Z Report, probably best capsulized the reports:
“The results were incredibly strong and…offer one of the most positive consumer takes on housing since the recovery started.”