Washoe County insured recordings statistics – August 2015

Below please find Washoe County, Nevada’s insured recordings (resales, new home sales, and refinances) statistics for August provided by our friends at Ticor Title of Nevada, Inc.

As the market enters the fall season seasonal slowing can be seen across all indices — resales, refinances, and new home sales continue to decline.

Commentary from the report:

Median Sales Price for Stick Built is $290,000.  Buyers are holding for affordable properties and are not making hasty decisions because of the lack of inventory in specific price points.  Sellers are overpricing their homes and we are now seeing a major increase in [the number of] price reductions.  Buyers and Sellers are at an impasse and are waiting for each other’s next move. The words on the streets are APPRAISAL & PRICE REDUCTIONS!   Appraisals are still not coming in and deals are cancelling and on MLS there a lot of Price Reductions.  Does anyone see the writing on the wall here?  BUYER’S MARKET!!!  Agents, Lenders and Title companies are getting ready for the new time lines, rules, and forms coming October 3rd.  Make sure to get educated on the changes.  They will affect our closings and time lines. …Resale and Refinance transactions dipped in August and New Homes have stayed steady month by month.  For July, the Resale transactions that were cash were 23% and for August it was 26%.

[Click on the chart below to enlarge.]

Below please find Washoe County, Nevada Notices of Default (NODs), Notices of Sale (NOSs), Trustees Deed Filings (TDs) and New SFR REO Listings statistics for August 2015 provided to us by our friends at Ticor Title of Nevada, Inc.

[Click on the chart below to enlarge.]

Commentary from the report:

As you can see in the Foreclosure Statistics, the amount of Notice of Defaults, Notice of Sales and Trustees Deeds recorded in the past few months have been consistent month to month.

Related post: Washoe County insured recordings statistics – July 2015