Months Supply of Inventory (MSI) for Reno Sparks has dropped again to 2.7 months, bringing our home inventory to a new low since September 2018. MSI represents how long it would take to sell through all homes currently listed if no new homes were placed on the market.
What does this mean for Sellers? Less inventory means less competition and more control of the market. Spring 2019 is looking like a great time to list a home for sale!
What does this mean for Buyers? Competition for a limited selection of homes for sale. While market conditions are more balanced than one year ago, Sellers are still clearly in the driver’s seat.