Reno and Sparks Market Report for October 2016

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3 Reno and Sparks Market Report for October 2016 The median sales price for the Reno area for September 2016 of $310,000 was unchanged from the August 2016 price. However, the September 2016 median sales price number of $310,000 was up a full 9% over the September 2015 number of $285,000. Number of Unit Sales In terms of the number of unit sales, the number of unit sales was 626, which marked an increase of 6% over the August 2016 number of 592. Additionally, the September 2016 number (626) represented an 9% increase over the September 2015 number of 572.

4 New Listings September 2016 new listings dropped to 691; this number is down from August 2016 s number of 803 listings, which represents a 14% drop. Yet, the September 2016 number of 691 represents a 9% increase over the September 2015 number (634). 3.4 Months Supply of Inventory Currently, there are 3.4 months supply of inventory (MSI) on the market. (Months supply of inventory is the time it would take to exhaust the active and pending rate of inventory at the current rate of sales.) In July and August of 2016 the MSI stood at 4; this continues the seller s market trend that the Reno market has experienced for years. All this could be good news for buyers. NAR s Chief Economist, Lawrence Yun recently stated, The market fundamentals primarily consistent job gains and

5 affordable mortgage rates are there for the steady rise in first-timers needed to finally reverse the decline in the homeownership rate." 1 1

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7 Adding a Little Extra Thanks to Your Next Thanksgiving Thanksgiving is the perfect time to stop and reflect on all the things that you have to be thankful for in life. Research has shown that one of the single best ways to boost your happiness is to pause and consider the different things that are going well. So let s take a look at how you can get more out of your next Thanksgiving! Explore the Different Aspects of Volunteering While there are many ways to help you focus on the value of Thanksgiving, few of those ways are as powerful as helping others. Thanksgiving is the perfect time to lend a hand to charities in your community. By volunteering to help those in need, such as volunteering to work in a homeless shelter, you will quickly realize that you do indeed have many reasons to be very thankful. Retirement homes are often looking for volunteers who are willing to assist their residents or simply spend time with them. The holidays can be a remarkably lonely and stressful time for the elderly. The elderly, especially as they age, often find that many of their friends and relatives are no longer alive, which can lead to a sense of isolation.

8 Befriending elderly residents in retirement communities or in your own neighborhood is an exceptional way to add value and worth to your Thanksgiving experience. It s a win-win. Invest Your Time with Friends and Family Spending quality time with your family is another way to make Thanksgiving special. All too often the term quality family time is interpreted as meaning going places and doing things. However, sometimes all you need to do is focus on communicating and listening. Why not get to know your family members better and see if you can help with their problems? Sometimes even people living under the same roof don t truly know what is going on in each other s lives. In time, a trip to the movies, museum or even a vacation will be forgotten. But investing the time to show you care and help your friends or family members can lead to life changing results. Make a Gratitude List The time you spend creating your own gratitude list will be time well-spent. One of the easiest ways to boost your own feelings of gratitude and improve your outlook on life and your future is to ponder why you should be grateful and happy. Writing down the reasons for why you should be thankful will not only change your Thanksgiving, but your life as well. Thanksgiving is about sharing and demonstrating that you care about the world and those around you. By investing a few moments to think about how you can make the world a better place, you will not just improve the lot of those around you, but you also will increase your own happiness now and in the future.