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.