In the Reno-Sparks market at the end of August we had a 1.5 month supply of inventory.   New listings in August were up slightly over July, but down 12% from the same time last year.  With continued buyer demand for homes in affordable price ranges there are still many opportunities for seller going into our Fall selling season which often sees a slow down.  The Shocket Team is helping sellers get their homes sold this fall.

Some Highlights:

  • The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report.
  • First-time homebuyers made up 31% of all sales in August.
  • Homes are selling quickly with 51% of homes on the market for less than a month.
  • A limited supply continues to drive up prices for the 66th consecutive month.