April 2010 Home Sales and Foreclosure Data for Was...

The latest home sales and foreclosure data for Washoe County has been updated and the reports are available on our website. There were 43 new home sales in April, which was up 72% from the 25 sales in March, but still short of last year’s sales.  For a market that was accustomed to selling several hundred new homes each month during the “good” years, this is quite an adjustment for local builders but will likely be the new reality that we all operate under for the next few years.  Until the rest of the economy begins to stabilize — and I’m primarily referring to the JOBS market — it’s hard to see new home sales staging much of a comeback.  Unemployment is still hovering at or near record highs, and with this many households either out of work or fearing for the stability of their jobs it’s critical that people start to feel more secure with their own economic outlook before we can expect to see other areas of the economy settle down. For...

Washoe County New Residential Subdivision Activity...

The Center for Regional Studies has completed the first quarter updates to the Residential Subdivision and Market Activity Report for Washoe County and has made some additions to the report to make it even more valuable to its users.  There is now data for existing homes showing median list price per square foot by subregion in the Reno-Sparks area, as well as monthly resale activity by price range for the Truckee Meadows.  Also, the data for new residential subdivisions has been enhanced to include the number of bank-owned homes per subdivision and the average sale price of new homes sold in the previous quarter for each subdivision. The Residential Subdivision and Market Activity Report offers a comprehensive, current look at the housing market in the Reno-Sparks area by carving the basin up into 9 distinct subregions and thoroughly examining the finished lots, the stock of planned new housing, the number of remaining units, the number of bank owned units, and the number of finished...