Reno Market Shows Signs of Strengthening With Decrease In Rates

[Wesley Pittman]

Here in our local residential market in Northern Nevada there was a notable uptick in homes contracted and a corresponding decrease in days to contract in October I think largely in response to downward pressure on rates. Flippers and sellers all across market felt the small reprieve as our market was quite soft through the summer. 

In the chart below from our MLS, the dotted line is interest rate and the solid line is days to contract. Price actually closed a bit higher in October too than September

Has the experience been similar for other folks in Mountain West markets?