Summary: I don't know what the media is saying but the lower end market sure is beginning to look healthy to me.
Demand is up more than 1000% from September 2008, while supply is up 126.4% from the same month two years ago.
MSI is at a very low 2 months (national average is 6-8 months). This is a hot market to be in right now regardless of what others are saying. But expect prices to still go down a bit. It takes a while before home prices find a bottom even with a strong supply and demand.
Supply: (click image to enlarge)
Number of homes for sale in Reno $0k-$100k
Demand: (click image to enlarge)
Number of homes sold in Reno $0 -$100k
MSI (months supply of inventory):
Months Supply of Inventory $0 - $100k:
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