Active inventory (homes for sale—including single family homes, condos, townhomes, and manufactured homes) is nearly the same as it was at this time in January, 2021. That inventory shortage in early 2021 led to one of the biggest single-year increases in fair-market real estate value in Reno-Sparks real estate history. There were more homes in contract leading up to one year ago today (indicating higher buyer activity), but the number of contracts now is trending closer to what it was one year ago. Current numbers portend an active spring—extremely low supply for buyers to choose from, reasonably high buyer demand (but perhaps lower than last year), and a spring with both increasing prices AND increasing interest rates.
