Below please find Washoe County, Nevada’s insured recordings (resales, new home sales, and refinances) statistics for the month of October provided by our friends at Ticor Title of Nevada, Inc.
As the market enters the fall season resales and refinances are slowing, however new home sales move up a bit.
Commentary from the report:
Median Sales Price has declined for the last few months and is at $280,000. The Reno-Sparks Association of REALTORS® said this is a settling of the market due to our 4 year recovery. As the holidays are approaching, buyers are still holding for affordable properties and are not making quick decisions because of the lack of inventory in specific price points. Sellers are still overpricing their homes and we are continuing to see price reductions. Buyers and Sellers are at a standoff like two bulls in a ring. Each waiting for each other’s next move.
[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 October 2015 provided to us by our friends at Ticor Title of Nevada, Inc.
[Click on the chart below to enlarge.]
Commentary from the report:
Notice of Defaults, Notice of Sales and Trustees Deeds recorded in October dipped as banks are slowing the foreclosure process down before the holidays. Resale and Refinance transactions have decreased for the last 3 months. For October, the Resale transactions that were cash were again at 23%. New Homes increased a bit. NEW HOME BUILDERS are back! After attending the Builders Association BANN-ER awards last Friday, it is evident the builders are back in business. It reminded me of the BANN awards in the early 2000’s (back in the hay day) before the collapse of our real estate market. Excited to see this, but we still need affordable homes in the $250,000-$300,000 range.
Related post: Washoe County insured recordings statistics – August 2015
