How long would it take 'till we sell all the homes in Reno?

Months supply of inventory is down.  This is a positive sign.  From a high of twenty months worth of inventory of homes in December of 2007 it is down to 9.8 months.

This is what happened from December of last year:

• Dec 07:  20.0 months

• Jan 08:  14.3 months

• Feb 08:  11.9 months

• Mar 08:  12.0 months

• Apr 08:  9.3 months

• May 08:  8.5 months

• Jun 08:  9.7 months

• Jul 08:  10.7 months

• Aug 08:  11.4 months

• Sep 08:  10.2 months

• Oct 08:  10.7 months

• Nov 08:  9.8 months

It's not hard to wonder that in spite of the economic recession we are in, more and more people are buying into the Reno real estate market.  One reason I can think of is when the recession started was the time when home prices started to get more attractive to entry level buyers.  It has been three and a half years since the Reno real estate market topped.  Whew! that was fast.