Monthly Market Update: December 2011
November sales are up 22% over last year and are the highest unit sales for a November in history. For the 2nd month, we are comparing year-over-year sales without the artificial influence of a tax credit. Freddie Mac reported another record low 30-year fixed rate loan of 3.98%. Sources report by the middle of 2012, mortgage interest rates should gradually rise from today’s record lows to 4.5%.
Click the link below for the complete report:
Monthly Market Update December 2011
Monthly Market Update: November 2011
October unit sales in Washoe County are the 4th highest unit sales for an October in history and outpace October 2010 sales by 15%. This is the first month where the year-over-year comparison is not influenced by the tax credit incentives, thus a positive sign that sales remain healthy. Also, we have seen only moderate fluctuations in median price for the past 7 months. With the majority of new listings entering the market at under $150,000 and a majority of sales occurring in this same price range, we are cautiously optimistic that prices are at the bottom.
Click the link for the complete report: Monthly Market Update November 2011
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Puzzled by what’s going on in the market today?
My market report includes key indicators for the current real estate market: Year-over-year median sales price, including areas that have seen an increase in median price; information about MSI (Month’s Supply of Inventory) and how excess inventory is effecting the market; and why savvy investors feel this is an opportune time to buy real estate.
