Our friends at First Centennial Title have released their Market Condition Report for the Reno, Nevada area for the month of August. (Click on the report below to enlarge.)
Although the ratios of supply and demand remain formatted in the “green” — signaling relatively tight markets — the market velocity is easing a bit. Reno’s ratio of supply to demand value of 2.2 is up over June’s 1.9 number. Similarly Sparks’ Ratio of Supply to Demand value of 2.0 is also up from June’s ratio of 1.2.
In addition to an increasing supply and decreasing demand other seasonal trends are also beginning to appear — i.e. longer days on market, increasing weeks supply of inventory and decreasing percent selling.
Related post: FCT’s Market Condition Report – June 2015