In Washoe County, Nevada, September's stats showed a more than a 10% reduction in the number of Active licensed agents since the beginning of the year. In real numbers, September's decrease of 313 agents since January equates to one agent a day leaving the business. Statewide the decrease in the number of active licensed agents has been a bit more than 13%. See all the numbers here.
The median sold price per square foot for a home in Reno - Sparks, Nevada is now about $127/sq.ft. [after peaking at $214/sq.ft. in 2005]. The current $/sq.ft. number has brought us to pre-2004 levels. A buyer can now roll back the clock five years when purchasing a home today. Check out all the numbers here.
After rocketing skyward for a couple years Notices of Default in Washoe County finally peaked in April of this year at 457 NODs. In the five months following April's peak, NODs began trending downward slightly. For example, September's 422 NODs represented an 8% decline from April's peak.
Well, I suppose good things can't last forever. Washoe County Notices of Defaults took a HUGE jump in October. The 582 NOD's filed in October represented a month-over-month increase of 38%!
See all the numbers here.
The drop in October's median sales price is truly startling (see table below). I believe October's is the largest one-month decline in sales prices we've seen since I began tracking these numbers. The median sold price for Reno and Sparks homes has now fallen below $220,000. However, the really shocking number is that this drop represents a seven percent decrease from September's median of $236,500. Yes, that's 7% in one month! See all the numbers here.
Washoe County Notices of Default remained relatively flat for September. Very high still (422 for the month); but stable nonetheless. A ceiling of 400 - 450 per month seems to have been set (as observed for the last eight months).
For the second consecutive month the number of re-fis is less than the number of resales; a phenomenon never before observed in Reno's housing market history until last month. Resales declined slightly (20 less sales) for September as compared to August. The downward trend in unit sales should continue as we enter the slower house buying season.
See all the numbers here.
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