Good news!  It has been reported by the Reno/Sparks Association of Realtors, that March sales of existing single family homes in Washoe have increased by 3% from the same period last year.  Not only that, it is also 13% up from the previous month and the sales number fell short of setting a record for the month and is just short of sales of March 2005 which was part of the real estate boom in our area.  Foreclosure inventory have decrease  because of stricter foreclosing laws.  For theses reasons, non-distressed sellers have an opportunity to now sell their homes.

We might even see an increase in prices in home values if fewer distressed properties come on the market.  With banks having to deal with stricter foreclosure filing requirements by streamlining the short-sale process.  Some banks have new systems that can reduce the time of a short sale from a few months to a few weeks.  This is all good news however until the job market improves and our unemployment decrease in Nevada will we really be able to say we are once again in a good market.