Northern Nevada Is Building It’s Way Back

Things are looking up for Nevada real estate–thankfully!–as evidenced by the uptick in building permits, housing starts and median home prices in 2013. Building permits authorize the construction of new structures on a specific lot and housing starts calculate the number of new homes constructed. In 2013, the Reno/Sparks area saw a 60% increase for single-family housing permits and a 601% increase in multi-family housing permits according to the National Home Builders’ Association. 

Prices also increased according to the Northern Nevada Regional MLS: 

• The fourth-quarter median sales price was $222,000, a 20 percent jump from the October-December period in 2012.

• The December median sales price was $229,500, representing a 23 percent rise from December 2012.

1/22/14 RGJ

It’s great to see that our community is recovering and that people are realizing the value in home ownership again. 

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Beautiful Fall Weather Will Keep Buyers Out Looking…

According to The National Association of Home Builders, the Northern Nevada area is among the nation’s improving markets in September which is measured by increases in housing permits, home prices and employment. Prices may be tapering in some areas but buyers are still out there drawn by low interest rates, rising rent and pent up demand for housing.

Reno is in there!

With some warm weekends still ahead of us, there will still be buyers interested in hitting the pavement and finding the home of their dreams, so don’t let the time of year deter you if you’re a seller!

John enjoying the fall weather.