Northern Nevada's Strange Housing Math

<p>Northern Nevada’s October housing statistics appear contradictory: the median sales price rose 6.7% to $639,000, while closed sales fell more than 15%. New listings and active inventory also declined sharply. Jon Sanchez and Realtor Cory Edge explain how mortgage rates, affordability and the homeowner lock-in effect are producing fewer transactions without causing a broad decline in prices. They also discuss who holds the negotiating power, what buyers can realistically request, how sellers should price their homes and why lower mortgage rates could initially increase competition rather than make housing cheaper.</p>