The Reno – Tahoe area has proved itself to be as creative as it is resilient in dealing with the realities presented by 2020. What had been the nation’s fastest growing economy for job growth has shown remarkable durability despite restrictions related to the pandemic. The result is a demand for housing that is every…
Much has been made of the booming real estate sectors in all but a few metropolitan markets throughout the nation. As the public has settled into a new normal in which remote work and various forms of distance learning become a reality; if not a looming threat, demand for suitable housing has spiked. Activity in…
Real estate in the Reno-Tahoe area took a mighty step forward in July shaking the malaise of quarantine. Nearly 1,200 residential properties traded hands during the month, a healthy 12% improvement over the previous month and, notably, a return to even with 2019 signals health in the local real estate market despite COVID-related economic challenges….
Real estate in the Reno-Tahoe region continues to shake the rust of quarantine posting results greatly accelerated from previous months. 1028 residential transactions closed in June 2020 representing a 35% improvement over May; widely understood to be the market’s trough. As consumers in and out of region begin to contemplate a post-COVID existence that includes…
May, 2020 provided the first opportunity to comprehensively evaluate the impact COVID-19 is having on the Reno-Tahoe real estate market. After years of solid, consistent growth, shelter-in-place orders have had an immediate impact on the local economy and housing market. Previously months have reflected conditions prior to quarantine when deals were consummated even if…
The most recent 30-day period gave the first glimpse of that impacts stay-at-home orders are having on real estate in the Reno-Tahoe area. Many theories have abounded ranging from recession-level price drops to scenarios that include an acceleration of interest in the region for cost and quality-of-life reasons. The first data that reflects a month…
At its core, real estate is about community. Market conditions will vary between hot and cold but times like these reveal the bonds that tie our area together. While real estate activity has slowed to a trickle, our community has shown tremendous resolve as we shelter in place; doing our part as individuals and collectively…
Reno-Tahoe real estate posted yet another strong month for closed transactions in February 2020. While the momentum in the local market is undeniable, closed transactions are generally a lagging indicator of economic conditions given that most deals are consummated 30-60 days prior. As such, the impact of recent economic events will not be quantifiable for…
Reno-Tahoe real estate has begun the decade with torrent, bucking the seasonal malaise characteristic of the year’s early months. There were 746 closed residential transactions year-to-date, which is more typical of an early Q2 result for the local market, topping January, 2019 by 10%. Moreover, the median price of $358,787 exceeds the same month a…
‘Tis the season for retrospective analysis and what a year it was. Using the combination of market forces that have propelled the Reno-Tahoe market in post-recession years, local real estate surged to highest-ever results in total transaction volume, pricing and luxury sales. Total real estate volume surpassed $5 billion for the first time in recorded…
