Monthly Market Update ~ September 2013

Realty Puzzle

August 2013 unit sales were higher than any other August in the history of NNRMLS (Northern Nevada Regional Multiple Listing Service). As we had anticipated, we are beginning to see leveling in median sales price versus the high appreciation in home median prices that has taken place in the last 16 months.This may be due to the beginning of the seasonal softening of median sales price. Prior to the boom, a “normal market” saw an increase in activity and median price beginning in the spring and than a decline or leveling in mid-summer. The recent increase in interest rates may also be a factor. Although interest rates are still affordable, the increase may push some buyers out of the market. See the full report: September 2013 Market Update

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