May 2020 Market Report for Reno-Sparks Real Estate now Available

This month, we provide a national perspective: Lawrence Yun, Chief Economist and Senior Vice President of Research at the The National Association of Realtors® provides the following information: “Unfortunately, we knew home sales would wane in March due to the coronavirus outbreak. More temporary interruptions to home sales should be expected in the next couple of months, though home prices will still likely rise.” While sales have declined, home prices are still solidly strong. Nationwide, the median existing home price for all housing types in March was $280,600, up 8.0% from March 2019 ($259,700), as prices increased in every region. March’s national price increase marks 97 straight months of year-over-year gains. See the full report, including Reno-Sparks real estate data: May 2020 Market Report