With the 30-year mortgage rate now at 7.12%, we’re seeing a real impact on the housing landscape here in northern Nevada. Reno’s median home price is holding strong at $659,777—hovering close to all-time highs—thanks to persistent inflation pressures and a tight land supply. For buyers navigating these challenging conditions, strategic negotiation is more important than ever. Drawing from my background both as a real estate agent and former mortgage loan officer, I always recommend considering seller credits or rate buy-downs to help offset today’s higher borrowing costs. A well-planned approach can make all the difference in securing the right home, even in a competitive market.
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