Is a bubble forming in Reno, Nevada?

[Cameron Don Meals]

Hello everyone,

My Name is Cameron Meals and I'm a newbie investor in the Reno/Tahoe area searching for my first house hack. The big question that has been festering in this particular market: Is a real estate bubble forming again? And is now a good/decent time to invest?

I have heard both sides - half of the people saying RE will trend upwards for several years given gainfull employment opportunities and a adventageous business climate along with a continued shortage of housing; I have also heard to wait to invest until around the 3rd quarter of 2019 when housing is more abundant and the economic trend demands a downward curve. 

Here are some insights from http://renorealtyblog.com/2018/07/june-median-sale...

Year-over-year median house price is $385,000 up 13.2% or $45,000 from June of 2017

Year-over-year home sales in June down 25% from 763 in 2017 to 590 in 2018 

Only a month and a half of available inventory 

Being my first RE venture, I'm very indifferent about the market and timid to buy into a losing situation. Im finding it difficult to find gross scheduled rents above 1% of listing prices.

 I would appreciate any insight from the community!