The Reno/Sparks Association of REALTORS® has released its Sparks and Reno real estate market report for May 2015. Click on the report below to access the entire report.
From May’s report…
“Homebuyers who have been on the sideline should consider making a move to buying a home soon before interest rates get too high,” said Dave Hansen, 2015 president RSAR. “Mortgage rates are showing signs of inching up. The 30-year fixed-rate mortgage is up almost a half of a percentage point since mid-May, averaging about 4.125 percent. Economists had predicted we would begin to see an increase in interest rates by mid-year and they appear to be right.”
May 2015 median price was up 4.7% to $284,900 compared to $272,000 in April 2015 and up 18.7% compared to $240,000 in May 2014.
related post: RSAR Monthly Market Report – March 2015