What’s happening in our Reno market, lately? Is it a buyer’s or seller’s market?
Reno is in a seller’s market. Basic supply and demand dictates that low inventory causes higher home prices, which is a great turnaround for sellers listing their homes.
For buyers, interest rates are at an all-time low, so if you’re interested in buying, now would be a great time to lock in your loan.
Because we’re in a seller’s market, sellers have the upper hand in most negotiations. If you’re looking to sell your home, I encourage you to put it on the market before spring. If you’re looking to buy, lock in your loan before interest rates rise in 2018.
If you have any other questions about our market or you’re thinking of buying or selling a home, don’t hesitate to call or email us for a free real estate consultation. We’d be happy to help you.