How is Covid19 affecting our housing market??

Wednesday, May 13, 2020   /   by Tina Reynoso

How is Covid19 affecting our housing market??

As an agent, everyday I hear from my clients "what's happening in the market?" and its such an interesting time.  The last 2 offers I wrote both were in multiple offer situations.  Last 2 listings I put up had multiple offers within 7-10 days.  Also if you compare last year to this year, our inventory is DOWN.  Just look at these numbers.. Home prices are up, homes on the market are down and pending..2% down.  For more of a nationwide picture..take a look at this article just put out by NAR.

This whole thing is a bit of a head scratcher, but all signs point to this market holding strong!

Median sales price…. May 2020 $ 404,944

                                       May 2019 $ 373,500


Pending Ratio………      May 2020  45%

                                        May 2019  47%



Absorption Rate……… May 2020 1.8 Months

                                       May 2019 2.5 Months

Realty One Group Eminence
5325 Reno Corporate Drive
Reno, NV 89511

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