After ten rate hikes since March of last year, the Fed left their benchmark Federal Funds Rate unchanged at a range of 5% to 5.25% at their meeting last Wednesday. The Fed Funds Rate is the interest rate for overnight borrowing for banks and it is not the same as mortgage rates. When the Fed hikes the Fed Funds Rate, they are trying to slow the economy and curb inflation.

What’s the bottom line? The Fed kept the Fed Funds Rate unchanged to give themselves more time to assess incoming data. In his press conference following the meeting, Fed Chair Jerome Powell stressed that the Fed is “strongly committed” to returning inflation to their 2% target as measured by the Core Personal Consumption Expenditures Index.

Powell also noted that “nearly all…

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Below is a link to our Market Report for Reno & Sparks, Fernley, Fallon, Carson Valley (including Gardnerville, Minden & Topaz), and Incline Village.

As you can see, the Northern Nevada Real Estate Market continues to pick up steam; more new listings are on the market, with higher median prices and homes going under contract sooner. 

If you'd like an even more local report on real estate in your neighborhood, please contact me via social media, text, email, or phone, and let me know if you'd like monthly updates on what is happening right in your neighborhood.

If you or someone you know has questions about these statistics or real estate in our area, please don't hesitate to contact me.

 To view the most recent monthly market statistics, click here or…

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