The country's existing home sales fell 2.6%, the lowest number of sales in the nation since the data series began in '99. Not so locally, home sales in Reno and Sparks continue to go up. What could this mean?
Much as I desire to make the conclusion that the bottom for the Reno real estate market is just around the corner, I think it's still too early. But what I want to point out here is the Reno market,amidst the country's real estate woes, is currently holding its ground in terms of existing home sales. That says a lot about our real estate market.
In Wall Street, when the general market is going down, most of the stocks follow the trend, but things to look out for are those few stocks that may be falling, but not as hard as the others. So I couldn't help but make the correlation about what's happening now with the general real estate market and our local market. Will Reno be one of the choice cities that will be the first ones to recover? I'm certainly hopeful.
What do you think???
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