My friend: "Joe, is it true inventory of homes is at 5 years?!"

Joe: No.

Actually it’s about 3 months.

It would take 3 months to slurp up all the homes for sale in Reno at the current speed of selling it (demand). One of the lowest MSI (months supply of inventory) recorded in the history of Reno real estate.

It’s my absolute conviction that what was happening in 2006—majority of people didn’t believe anything bad could happen in the Reno real estate market— is happening again, but in REVERSE. The general population is still reeling from the real estate depression. I can’t blame them but ladies and gentlemen it’s time to hope again.

Even Somerset is experiencing the lack of supply: