FCT’s Market Condition Report – March 2013

Our friends at First Centennial Title have released their Market Condition Report (MCR) for March. (Click on the report below to enlarge.)

Commentary from March’s MCR…

Price continues to move up and the rate of increase is rising. 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 be in full swing. However, all of these forces acting in concert have not moved the supply schedule so far this year. 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 – February 2013