RSAR Monthly Market Report – October 2014

The Reno/Sparks Association of REALTORS^® has released its real estate market report for October 2014. Click on the chart below to access the entire report — including new “Housing Affordability Index” charts on pages 27 and 28.

Summary from October’s report…

“According to an economic forecast at the residential forum held during the 2014 REALTORS® Conference and Expo that was held earlier in November, existing home sales are expected to be higher next year and prices will remain at a healthier level of growth that benefit both buyers and sellers,” said Mark Ashworth, 2014 president of the Reno/Sparks Association of REALTORS.
“Lawrence Yun, chief economist of the National Association of REALTORS®, said existing-home sales this year got off to a slow start, but have recently shown stronger growth, slower price gains and pent-up demand. He expects the national median existing-home price to rise 4 percent both in 2015 and 2016.”
October 2014 median price was up 8.8% to $260,000 compared to $239,000 in September 2014 and up 21.0% compared to $214,875 in October 2013.

related post: RSAR Monthly Market Report – September 2014