Most of the data I post on this blog is Washoe County-centric; however our regional MLS actually covers a much larger portion of Northern Nevada. Each quarter the Northern Nevada Regional MLS releases a Market Watch Report. This report contains housing market data on the counties of Churchill, Douglas, Lyon, Storey, Washoe and Carson City.
The 3rd-quarter report was recently released and is available here:
Economic and Market Watch Report – 3rd Quarter
Housing data (average price, # listed, # sold, DOM) is broken out by county and then by zip code within each county.
billddrummer
To Guy,
Interesting report. Some of the commentary is equally interesting.
In one part, the report makes mention of how there are over 16 million rental households who are financially healthy enough to afford to buy a home, and if the tax credit nudged even 5% of those households into purchasing, it would be a great thing.
I submit that many of those financially healthy rental households are financially healthy because they are renters. Financial health vanishes quickly when unaware individuals realize they have to start paying for things their landlord took care of.
Perhaps people should rent for awhile until they have some reserves to handle the unforseen expenses that come with home ownership, instead of pushing everyone to buy.
After all, isn’t that what got us into trouble to start with?
Sully
Yeah bill; it seems though the govt doesn’t want anyone being too financially healthy. 🙂
billddrummer
To Sully,
That seems unfortunately true.
BTW, anyone have any input on the kitchen shown in the banner? Looks like a palace to me.
But then, I rent an apartment.
Worried Guy
Apparently true?..Have you checked the interest rates on cash lately? ZERO PERCENT!…Even .01% interest is taxable under the obtrusive income tax laws against savers. All policies are to drive the bystander into debt to feed the bankster machine.
skeptical
Useful stats for those out there that think we are anywhere close to hitting bottom:
Percentage of Underwater Homeowners:
Nevada: 65% US: 23% (The Atlantic, 24Nov)
Unemployment (U1):
Nevada: 13.1% US: 10.2% (google.com/publicdata)
Foreclosures (Washoe County):
>7300 (Realtytrac)
Total Households (US Census Est. 2008):
~106,000
Foreclosures sold/month (Jun-Oct 09 avg.):
~340
Trends are important, and recent reports from NAR and RSAR report the data as being on the upswing. Well, it is, I reckon. What they fail to mention, however, is the immense and historic overhang that will negatively impact the market for years, including, but not limited to: underwater homeowners, numbers of foreclosed properties, and unemployment. If my son has an “F” in his class, but he just got a paper with a “D”, is that cause for optimism? Is there any chance he’ll end up with a “B” this year? Probably not.
Oh, one more thing, for the first time in 20yrs, Nevada is losing population. Fewer people means fewer people needing a house.
Facts are stubborn things. RSAR/NAR, however, will find a way to spin them in such a way to show us all that we have blue skies and birds chirping.
Looking toward 2013 or beyond for purchase while I gaze at the Arrowcreek et al McMansion listings for >$500/sq.ft. Barkeep, I’ll have another one of them there kool aids……
billddrummer
to skeptical,
Make it a double.