Marshall Realty Blog 9-21-16 Is the Current Pace of Home Sales - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

Marshall Realty Blog 9-21-16 Is the Current Pace of Home Sales Sustainable?

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There are some real estate experts  questioning whether the current pace of homes for sale  is sustainable. Are too many people buying homes  like in 2004-2006? Are we headed for another housing crisis? Actually, if we look closely at the numbers, we can see that we are looking at a very healthy real estate market.

Some are concerned because if you look at the last three years of home sales and compare them to the three years just prior to the housing bubble they appear similar. But if we go further back in history, we can see the real picture. After taking out the “boom & bust” years, the pace of sales is growing at a quite natural pace.

And new home sales are way below historic numbers. Trulia’s Chief Economist Ralph McLaughlin explains:

“Adjusted for population, [new home sales] are at about 63% of their fifty-year average level—way better than 2011, but nowhere near heated.”

The Bottom Line:

The current pace of residential home sales definitely seems sustainable.

If you are interested in buying a Reno home  or selling your house , contact Marshall Realty  today at (775) 787-7400. Reno real estate is changing all of the time. We will help guide you through the process.

Content Courtesy: Keeping Current Matters and Marshall Realty

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