4Q 2024 Reno-Sparks Residential Activity Report Now Available 

Recent 4Q entitlement activity remained placid outside of Lifestyle Homes making additional moves on the Silver Knolls area (Red Rock Rd) with a masterplan amendment and zoning change approval for Silver Sky Ranch (489 single-family units).  The North Valleys will be shouldering more and more single-family development as the Truckee Meadows continues to run out of developable land.  To the south, Daybreak appears ready to begin pad work in 2025 with the purchase of the majority of phases by Toll Brothers in December, and the remaining phases bought by Lennar.  As touched on above, upon the absorption of Daybreak, further residential development in the Damonte Ranch/South Meadows region will begin pushing east into the Sunny Hills & Dolan ownerships.  The eventual connectivity and dynamics with Storey County will be interesting to watch.

Overall, 2024 was “groundhog year”, closely representing real estate activity in 2023 due to the consistently high mortgage rates.  Continued (and recently increasing) inflation, compounded by upward pressure on treasury note rates due to federal debt, indicate that relief for mortgage rates are a long way off, unfortunately.  However, our real-estate health fundamentals including Baby Boomers escaping high taxes (and insurance costs) in California, continued job growth in a diversified economy, and our scenic and recreational quality of life will keep our region highly attractive through the uncertain years ahead.

Brian Bonnenfant
Project Manager
Center for Regional Studies
University of Nevada, Reno
(775) 784-1771