$0 - $100,000 Reno Market (2 Year Chart)
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
- Sept 2010: 206
- Aug 2010: 232
- Jul 2010: 228
- Jun 2010: 192
- May 2010: 189
- Apr 2010: 201
- Mar 2010: 198
- Feb 2010: 197
- Jan 2010: 184
- Dec 2009: 182
- Nov 2009: 192
- Oct 2009: 205
- Sep 2009: 222
- Aug 2009: 206
- Jul 2009: 222
- Jun 2009: 212
- May 2009: 188
- Apr 2009: 195
- Mar 2009: 209
- Feb 2009: 193
- Jan 2009: 172
- Dec 2008: 154
- Nov 2008: 120
- Oct 2008: 114
- Sep 2008: 91
Demand: (click image to enlarge)
Number of homes sold in Reno $0 -$100k
- Sept 2010: 33
- Aug 2010: 33
- Jul 2010: 29
- Jun 2010: 43
- May 2010: 38
- Apr 2010: 37
- Mar 2010: 39
- Feb 2010: 25
- Jan 2010: 35
- Dec 2009: 35
- Nov 2009: 32
- Oct 2009: 44
- Sep 2009: 32
- Aug 2009: 48
- Jul 2009: 41
- Jun 2009: 40
- May 2009: 38
- Apr 2009: 34
- Mar 2009: 18
- Feb 2009: 19
- Jan 2009: 8
- Dec 2008: 10
- Nov 2008: 10
- Oct 2008: 6
- Sep 2008: 2
MSI (months supply of inventory):
Months Supply of Inventory $0 - $100k:
- Sept 2010: 2 months
- Aug 2010: 2.6 months
- Jul 2010: 4.6 months
- Jun 2010: 6 months
- May 2010: 4 months
- Apr 2010: 2.7 months
- Mar 2010: 3.3 months
- Feb 2010: 3.4 months
- Jan 2010: 4.8 months
- Dec 2009: 3.9 months
- Nov 2009: 4.2 months
- Oct 2009: 3.8 months
- Sep 2009: 3.6 months
- Aug 2009: 4.7 months
- Jul 2009: 2.9 months
- Jun 2009: 4.2 months
- May 2009: 3.7 months
- Apr 2009: 3.3 months
- Mar 2009: 4 months
- Feb 2009: 7.4 months
- Jan 2009: 12.5 months
- Dec 2008: 10.6 months
- Nov 2008: 15.7 months
- Oct 2008: 8.8 months
- Sep 2008: 28 months
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