The number of new homes sold nationally in 2011 represented the lowest number sold since records were being kept from 1963. See the AP story on AOL Real Estate: New Home Sales 2011: Worst Year on Record
Locally, Washoe County new homes sales were also down to record levels for 2011…
Washoe County recorded new home sales by year:
| Year | New home sales |
| 2011 | 592 |
| 2010 | 681 |
| 2009 | 875 |
| 2008 | 1,804 |
| 2007 | 3,245 |
| 2006 | 4,695 |
| 2005 | 4,615 |
source: Washoe County Insured Recording Statistics 2005 – 2007
source: Washoe County Insured Recording Statistics 2007 – 2009
source: Washoe County Insured Recording Statistics 2009 – 2011
But despite the negative forecasts of recent years for the local market, the local
construction sector sees indicators for stabilization — predicting a stable 2012 and forecasting growth in 2013. See today’s Reno Gazette-Journal story regarding the Builders Association of Northern Nevada’s “Forecast 2012 and Beyond”: Construction sector sees indicators for stabilization
Carney
“2013 will be better” according to, who exactly?
Well, lets’ see. An “economist” from the National Association of Homebuilders and two local commercial real estate brokers. Who could ask for any more unbiased opinions than that?
You keep serving up the spinjive kool aid Guy.
Reno Dino
Robert Shiller is arguably the best prognosticator of U.S. housing prices since having called the bubble several years out. His latest take is flat to lower going forward.
Interesting to note the best predictor of housing prices is momentum. Lower prices breed lower prices. That’s the unbroken direct here so far.
http://www.businessinsider.com/robert-shiller-housing-2012-1
Rebecca Collins
When 2011 was the worst in new house sales, it is good that this year can find some stabilization and thereby growth in 2013. As a builder we have never gone through such a hard situation and eagerly waiting for something brighter.