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Single Family Home Value "Bubble" May 2016

Posted by Jeff Sallan on Thursday, May 26th, 2016 at 7:20am.

There have been murmurings that Reno-Sparks is in a housing bubble. Take a look at the graph below. Reno-Sparks home values peaked in the 4th quarter of 2005 with a median home price of $350,000. If we look at the average appreciation rate of 1% per quarter, the median home value during Q4 2005 should have been just under $200,000. 

Now let's look at the current home value. According to the 1% per quarter appreciation rate, we should be $289,930. The current median home value is is $290,000 so we are almost exactly where we should be. 

If you have any concerns or questions about the Reno-Sparks real estate market, please call us at 775-453-4568. We would love to be of assistance. 

 

1 Response to "Single Family Home Value "Bubble" May 2016"

No Housing Bubble as Home Values Level wrote: [...]President-Elect John Graham agrees with our outlook on the current market conditions. Check out this article from May and this in-depth article written by Dickson Realty President Nancy Fennell. 
In summary, the[...]

Posted on Tuesday, December 13th, 2016 at 8:27am.

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