The Reno/Sparks Association of REALTORS® has released its Sparks and Reno real estate market report for March 2015. Click on the report below to access the entire report.
From March’s report…
“Mortgage rates are still sitting near historical lows, with the 30-year fixed-rate mortgage hovering under 4 percent” said Dave Hansen, 2015 president RSAR. “The low rates have helped push more buyers into the marketplace. However, rates may not remain this low for too much longer, which may prompt an increase of home sales this spring. Rising rental costs are also moving more potential home buyers off the sidelines and into purchases.”
- March 2015 median price was up 1.9% to $270,000 compared to $265,000 in February 2015 and up 18.4% compared to $227,999 in March 2014.
- March 2015 MSI (months supply of inventory) was down to 2.6 months compared to 3.9 months in February 2015 and down from 4.2 months in March 2014.
related post: RSAR Monthly Market Report – February 2015
