The 12-month change in months of inventory has seen a significant increase of 149.47%. This change indicates the shift in the supply and demand dynamics over the past year. Such a substantial increase suggests that there has been an influx of new listings, potentially leading to a more favorable environment for buyers. Sellers, on the other hand, may face increased competition as the market adjusts to this shift. The median days homes are on the market, which currently stands at 42. This metric measures the average number of days it takes for a home to sell once it is listed. A lower number suggests a faster moving market with high demand, while a higher number indicates a slower market. With homes spending an average of 42 days on the market, we can say that the market is relatively active, offering a reasonable pace for both buyers and sellers. The list to sold price percentage is at an impressive 99.5%. This metric reveals the percentage of the listing price that sellers are ultimately able to achieve when selling their homes. A higher percentage indicates that sellers are able to negotiate close to their desired price, which is undoubtedly good news for sellers. However, buyers may need to be prepared to make competitive offers to secure a property in such a market. The median sold price, which currently stands at $498,500. This metric represents the middle point of all the sold prices in a given area. It provides a snapshot of the overall price range in the market. With a median sold price of $498,500, we can say that the market is in a healthy state, offering a variety of price points to cater to different budgets. The market trend for Nevada, Texas is considered to be transitioning from a seller’s market to a balanced market due to the increase in mortgage rates since the first quarter of 2022 and the war in Ukraine adding upward pressure on inflation. Although, the Fed doesn't set up mortgage rates, Fed's actions have a ripple effect. A higher rate for banks tends to make borrowing more expensive for consumers affecting eventually long-term interest rates (such as 10-year Treasury bond). While mortgage rates typically follow the trend of the 10-year Treasury yield, the rate on the conventional 30-year mortgage also tends to rise.