+15.1% increase in Reno homes under contract from 2006-2008

Reno home prices (median price) is still going down but homes that are under contract (awaiting to be closed) is up.  What could this mean?

The market is gaining some steam by selling more homes while supply is down  Friends, always remember that demand (buyers) lead the market.  If demand goes up long enough, sellers' confidence follows.  "A healthy real estate market is a healthy supply and demand."

Don't wait for mainstream media to announce the market bottom.  Based from experience and history, news media are notoriously tardy. 

While the Reno real estate market is still going South, there is evidence (see 2nd graph) suggesting that the bottom may not be as far as we think.

And don't forget guys, even now there are price points in the Reno real estate market that are ripe for picking.

Reno real estate: median price

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Reno real estate: homes under contract