Reno-Tahoe Mid Year 2015 Housing Update

Welcome to the Mid Year Housing Market Review. Each month, we update The Greater Reno-Tahoe Real Estate Report.  If you are interested in seeing the charts and tables behind this summary, you can view the market report (PDF) here.  Want to get an email update each month with a market snapshot and other related news?  Click Here to subscribe to the report or share with a friend!

Let's start off with a few areas of key observations.

Distressed Property

With the rise in prices, there are fewer distressed properties (short sale and foreclosure/bank-owned listings) sold each month. For June of 2015, all local markets had less than 10% of total sales that were distressed properties. This percentage has been

Reno-Sparks Home Prices - What's Next?

With the rapid rise the local area has seen in home prices since early 2012, a common question we are hearing from clients looking to buy or sell homes is: Are we in a bubble? and... of course, When might it burst? For starters, scan the chart below:

Reno Sparks Home Prices - A 15 Year Look Back (click for full size PDF)

Where Are We Now?

The green line shows the median price, by quarter, of Reno-Sparks single family homes - if it looks a little scary, trust me, it was while navigating these lines every day! The red line shows a sustainable rate of median home price growth - it is a growth rate of 1% per quarter which is just a bit more than the actual growth rate of .92% per quarter from the first