Our friends at First Centennial Title have released their Market Condition Report (MCR) for January. (Click on the report below to enlarge.)
Price is rising but the rate of increase has slowed due to a negative correction in January. Supply and demand remain tight except in Fallon and Yerington. Areas where price is below 3.0 ratio of supply to demand will most likely continue to increase on a consistent basis. Usually, as price rises, supply will begin to rise also as sellers are attracted to the more promising price schedule. Also, the normal increase in supply and demand associated with the change in market cycles will begin in March. Sparks remains very strong (seller perspective) where there is a significant excess of demand over supply. SFR comprises about 88% of total market activity.
Related post: FCT’s Market Condition Report – December 2012