RSAR Monthly Market Talk reports – July 2010

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I’m a bit tardy on posting these, but for those readers who follow the Reno/Sparks Association of REALTORS® Monthly Market reports below are links for July’s reports.

  • Click here for July 2010’s Reno Monthly Market Report
  • Click here for July 2010’s Fernley Monthly Market Report

Reprinted with permission by the Reno/Sparks Association of REALTORS®.

About Guy Johnson

I am a licensed Nevada REALTOR® living and working in Reno, Nevada. Give me a call at 775-722-4011. My team and I will be happy to assist you with your real estate needs.
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58 Responses to RSAR Monthly Market Talk reports – July 2010

  1. MikeZ says:

    Ooops, sorry, my previous post should be addressed to Sully, not skeptical.

  2. MikeZ says:

    My prior post disappeared! Ok, let’s try this again …

    Sully, imagine my surprise when I clicked on your HousingStory link: “Pending Home Sales Reconfirm The Market Is Crashing!” and saw the chart from Sep 2 claiming the NAR Pending Sales Index fell for the last 3 mos.

    But in reality, on Sep 2, the date the July index was published, it rose 5.3%.

    See for yourself: http://tinyurl.com/34gayz2

    The lesson here is: just because some blogger on the ‘net makes a claim, that doesn’t make it factual.

    Don’t be some blogger’s unwitting patsy.

  3. Sully says:

    MikeZ, did you even read the paragraph under the chart? It said the same thing! I think you shot yourself in the foot. However, your link did bring up a good point, as Larry Yun (resident housing cheerleader) has finally said:

    “Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery,” he said. “But the recovery looks to be a long process. Home buyers over the past year got a great deal, and buyers for the balance of this year have an edge over sellers. For those who bought at or near the peak several years ago, particularly in markets experiencing big bubbles, it may take over a decade to fully recover lost equity.”

    Reminds me of the old joke about Merrill Lynch being a canary in a coal mine. When Merrill said it was time to sell, it was really time to buy all you could. Yun is the Merrill Lynch of Real Estate.

  4. MikeZ says:

    MikeZ, did you even read the paragraph under the chart? It said the same thing!

    Yes, Sully, I did.

    The text contradicts the chart above it, which shows the last 3 most as being down, sharply, (July’s data is conveniently left off the chart, did you ask yourself: “Why?”) when, in fact, the last down month was June, 3 mos ago.

  5. Sully says:

    MikeZ, I’m not sure what difference it really makes. Just like the latest unemployment numbers were heralded as something major, when they were really about 1/3 of what is necessary to just break even and there are still some 15 million unemployed.

    The pending sales figures are subject to revision next month (after everyone has forgotten about it) and the last 3 months are traditionally the hottest selling months for residential real estate. The whole overall picture still looks like someone trying to bail out the ocean with a bucket.

  6. MikeZ says:

    If the NAR or some pro-Real-Estate blog pulled this kind of stunt, and left the most-recent data off their charts, you’d rightly berate them (and I’d join you) but here you respond: “What’s the difference?”

    The difference is I expect truth, accuracy, reliability and credibility in *my* data sources.

    And let’s be clear: I’m not saying the pending sales numbers are good (you’re in “binary thinking” mode, friend), they aren’t, but that is orthogonal to the fact that the chart at the URL you supplied is wrong.

  7. Lurker says:

    Orthogonal. Nice. Lemme look that one up.

  8. Sully says:

    MikeZ; apparently the missing month was noticed by the author in the chart. He has now identified the last 3 months, they are not in chronological order but in order of number of sales. Confusing, even to me, as it doesn’t seem like a way to show data, but then again he is a mortgage broker!

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