Tight supply throughout all segments of the Reno-Tahoe real estate market has generated substantial pricing gains while suppressing the total number of sales. Ten weeks’ supply-constrained the total number of residential transactions in February by 8% compared to the same period a year ago. While still reduced, this is a small improvement from last month…
The 2020 real estate bonanza that dominated the last year shows no signs of abatement in the early days of a new year. As certain segments continue to rebound while others continue to languish in a COVID paralysis, demand for housing in the Reno – Tahoe area remains on a steady upward trajectory. For many…
In a year that defied simple descriptors, the performance of Reno – Tahoe real estate leaned heavily to the good in 2020. The early days of the pandemic had a stymying effect on real estate as the simple logistics of touring and transacting residential property rendered most activity infeasible. However, as businesses adapted and consumers…
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…
