I’m a bit tardy on posting these, but for those readers who follow the Reno/Sparks Association of REALTORS® Monthly Market reports below are links for July’s reports.

Click here for July 2010’s Reno Monthly Market Report
Click here for July 2010’s Fernley Monthly Market Report

Reprinted with permission by the Reno/Sparks Association of REALTORS®.

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I received an email yesterday from a colleague at Chase International.  This agent had been taking a look at the re-sale markets in Montreux and ArrowCreek, and thought I might be interested in her findings.  I was, and asked if I may post her email on this blog and she replied, “I would be flattered.”
In […]

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I was reminded recently that this month marks the fifth anniversary of the height of the Reno-Sparks housing market.  Five years ago the median sold price for houses in Reno-Sparks peaked at $360,500 (August, 2005).  Today’s median sold price of $180,000 is half of that.
Although all neighborhoods have declined since their peaks, some have been […]

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Below find First Centennial Title’s Market Condition Report for the month of July.

MARKET OVERVIEW: No significant change in market key measures from last month. The market is showing very slight signs of weakening from the perspective of the seller (rising Absorption Rate). This is in line with other markets surveyed.

SUPPLY (ON MARKET): Little change. A […]

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It’s refreshing to see Reno, Nevada NOT on a list of dire economic news.  A new report from Moody’s Economy.com singled out 22 cities that are at risk of slipping back into a recession in as early as three months. See the CNNMoney.com story here: 22 cities in danger of a double-dip recession
Perhaps, Moody’s […]

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New home sales plummeted over 54 percent in July compared to June.  July’s 43 new home sales is the lowest number since February of this year.
Resales also fell off considerably.  July’s 599 sales were off nearly 27 percent compared to June.  But after June’s stellar number (see Washoe County recordings – June 2010 - sales […]

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The number of houses sold in July fell 32 percent from June’s units sold.  Seasonality factors and the end of the First-time Homebuyers Tax Credit contributed to the huge drop in sales.
On the flipside the median sales price jumped nearly 6 percent in July – due to the decrease in the number of entry-level homes […]

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The RGJ reported this morning that average annual incomes in Washoe County fell $3,000 from 2008 to 2009. See Silver State’s incomes dive.
Looking at the data supplied from the U.S. Bureau of Economic Analysis average incomes for the Reno-Sparks metropolitan statistical area fell from $46,929 (2008) to $43,986 (2009)…a 6.3 percent drop.
Statewide incomes fell 5.8 […]

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Sparks was named one of the most attractive up-and-coming small market cities for operating a high-tech manufacturing facility in the West, according to a national study by New Jersey-based, The Boyd Company, Inc.
Sparks, Nevada was ranked 10th best among 45 areas surveyed by the company.  Read the RGJ story here: Sparks gets Top 10-ranking in […]

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I received the letter below from a reader of the blog.  In the letter he describes the situation of a friend of his who is underwater on his home and is faced with the decision to “walk away”.  He has asked that I post his letter and ask the blogosphere for its comments.  He is […]

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