Business Services GroupThe Center for Regional Studies serves the State of Nevada with data and market analyses designed to help a business select a location for operations, understand current market trends, and predict where the local economy is headed.

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Download Brian Kaiser’s “Washoe County...

The Center for Regional Studies has uploaded the Powerpoint presentation that Brian Kaiser delivered to Darrell Plummer’s PruSierra group of Realtors at their monthly sales rally in April.  Click <<HERE>> to visit our Presentation’s page and download the entire slideshow.

2012 Housing Reports...

Beginning in 2012, the Center for Regional Studies will be charging a small fee for the monthly housing reports that we compile.  As a self-funded entity of the University of Nevada, Reno, the Center for Regional Studies has always made it a priority to provide the most current and accurate data to the public, but the economic realities of today’s economy means that we must try to recover some of our costs to maintain these databases and reports. We are working on incorporating a storefront with shopping cart into our website so these reports may be purchased and downloaded directly from the website, but until we are ready to go live with that, please contact Brian Kaiser at briank@unr.edu (775-287-1237) or Brian Bonnenfant custom essay uk writers at bonnen@unr.edu (775-784-1771) to purchase these reports.  Thank you for your continued support and understanding.

Washoe County Year End 2011 Housing Data...

The year-end home sales and foreclosure data has been compiled and posted to our website, and there was some good news amid the rubble.  Existing single family home sales peaked in 2005 at just over 5,800 units, but it took a few years before the glut of foreclosures and short sales began to flood the market.  With prices tumbling and inventory rising, it set the stage for investors to re-enter the market – and I say “investors” because, for the most part, they were the only ones in a cash position able to take advantage of the deals being offered.  Existing home sales began rising from the depths in 2009 and have steadily increased since – and 2011 was a banner year for existing home sales with over 6,100 single family unit sales (up 11% from 2010). Notice that unit count is even higher than it was at the peak of the buying frenzy.  The difference, of course, is that prices have continued to fall since the end of 2005, although it appears as if we might finally be getting close...

Thoughts on 2011 Housing and the Coming Year...

My outlook for the residential market in Washoe County in 2012 is pretty bleak.  Sorry to be the bearer of bad tidings, but I just do not see much in the data that gives me hope that 2012 will be significantly different than 2011. In 2010, new home sales sunk to their lowest level in decades — barely 500 new homes found buyers last year and it was a disaster for most area home builders.  In 2011, the pace has been even worse and we’re on track to close less than 400 new units.  The problem with new homes is that they are competing in the marketplace for the same tiny pool of qualified buyers, and most of the buyers in today’s market are purely looking for the best deal.  New homes are unable to match the bargain basement prices of existing homes — over 60% of which are being sold in distress.  Also, investors comprise a rather large proportion of today’s buyers, so for them it makes more sense from a cash flow standpoint to focus on picking up a bank owned...

Reno 2020 – What might the Reno area look like t...

Purpose: link to study: click here The Center for Regional Studies at UNR was asked by the Reno Gazette Journal to help with the development of scenarios for what northern Nevada might look like ten years hence – in the year 2020. Methodology: To develop scenarios of how the region may evolve over the next decade, we decided to utilize an “outside in” approach – that is to first identify major underlying forces, including international and national forces, over which we have little or no control. The next step is to identify state and local forces that are influencing our future. In some cases, decisions made at the state and/or local level may be able to influence some of these forces. The final step is to bring together business and community leaders to discuss these forces and some of the choices which might cause different outcomes for our region and to flesh out what these futures may hold for our citizens, businesses, institutions and communities. The UNR team has identified...

Washoe County Home Sales Data through June 2011...

The Center for Regional Studies has [finally] updated the website with all of the latest home sales and foreclosure data for Washoe County through June 2011! So how has the area’s housing market been doing this year?  Pretty horribly, thanks for asking.  Overall sales of new and existing homes for the first half of 2011 were down 3% from the the first half of 2010, and the overall median sales price declined another 11%.  You’d think we would all be used to seeing these kinds of drops, but it still stings.  New single family home sales dropped 30%, but the median sales price actually posted a 10% increase compared to last year…Washoe County is on pace to close barely 400 new home sales in 2011, which is by far the worse sales rate seen in decades. Home foreclosures are up in 2011, but the leading indicators — Notices of Default and Notices of Trustee Sale — have both been trending DOWN this year.  One way to interpret this data is that banks are finally...

Corrected Year-End Home Sales Data for Washoe Coun...

The Center For Regional Studies has finished re-uploading all of the corrected home sales and foreclosure data to its website, and comparisons with previous year’s data aren’t flattering.  New single family home sales, in particular, suffered through a horrible year in Washoe County with a sales rate of just 1/4 of its “normal” pace.  The median sales price of new single family homes slipped another 11% in 2010 to just $221,450 — a 48% decline from the market’s peak.  Existing single family home sales managed to increase 2.8% in 2010 while the median sales price dropped another 7% to $171,900, largely a result of short sales and bank owned homes flooding the market.  With the “distressed” market losing steam, though, it will be interesting to see how the numbers shape up in early 2011. Interestingly, existing condo sales were a bright spot in 2010 with nearly1,300 unit sales during the year — a 38% increase from 2009 and...

3q10 Economic Indicators Report available...

The Center For Regional Studies has completed the third quarter 2010 Economic Indicators report and put it on the website.  There is some good news in there, but the reality is that there are going to be some tough times in Reno before we can put this recession behind us. Download a PDF copy of the report from our website, and make sure you’re subscribed to our RSS feed so you’re notified as we update the data on our site!

October 2010 Unemployment Rates by County...

The latest unemployment data for Nevada is posted <<here>> , and news isn’t very good for the Silver State.  Nevada still leads the nation in unemployment, with a 14.2% rate when adjusted for seasonal effects.  While most of the urbanized areas of Nevada have been suffering through record-high unemployment, some of the more rural parts of the state which depend heavily on mining to pay the bills have been weathering the storm comparatively well.  Only in the context of 14+% unemployment does 7-10% look favorable, but such is the case for Nevada these days…

3q2010 Home Sales Data for Washoe County Now Onlin...

The latest housing reports for Washoe County are posted here: http://centerforregionalstudies.org/about/what-we-provide/home-sales-activity/housing-sales-report/ Looking at the new home sales for September, the actual number of units sold (18) is really low, down 64% from last year and down 5% from August – but the median sales price of those few units was up quite a bit from last year (and last month).  There isn’t much activity in the new home market right now, but the average transaction price is so much higher than it is for existing homes that it makes me think that people buying new homes are clearly willing to pay a premium for a home that they don’t have to negotiate with the banks for, which is the case with over 60% of the existing homes on the market. For the third quarter as a whole, new home sales were down 72% from 2q, and down 59% from a year ago with only 59 new home sales…at that pace, the area would only absorb 236 homes in a year compared to 3-4,000 in the market’s...

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