Looking back to 2014 the annual year over year median price increases have typically seen double digit increases. Many have questioned if appreciation rates that high are sustainable. Many voiced concerns over affordability or a possible bubble. In 2019 the Reno-Sparks single family median price only rose 4%.
What will 2020 bring? Many are saying we will continue to see a strong seller’s market due to low inventory of available homes for sale (761 active listings as of this morning). Time will tell. As the saying goes “slow and steady wins the race.”
If you or someone you know is considering buying or selling a home in 2020 the Shocket Team can show you the market.