Where does Reno rank on Kiplinger’s recent list of 12 Cities Where Home Prices Have Risen Most? Well, because the report looked at only metro areas with populations of 500,000 or more, Reno doesn’t rank at all. However, for comparison I looked at Reno-Sparks, Nevada’s home prices in the year ending September 30, 2012 [Note: this was the same time period used in the Kiplinger’s piece.]
| Rank | City, State | One-year Change in Home Prices | Median Home Price | Change in Price Since Peak |
|---|---|---|---|---|
| 1 | Phoenix, Ariz. | 28.4% | $160,000 | -51.2% |
| 2 | Provo, Utah | 21.8% | $192,050 | -9.3% |
| 3 | Cape Coral-Ft. Myers, Fla. | 19.5% | $124,300 | -56.9% |
| Reno, Nev. | 17.4% | $175,000 | -52.1% | |
| 4 | Minneapolis, Minn. | 16.8% | $188,000 | -33.7% |
| 5 | Akron, Ohio | 16.5% | $95,000 | -39.2% |
| 6 | Youngstown, Ohio | 16.1% | $70,000 | -40.6% |
| 7 | Seattle, Wash. | 15.0% | $315,000 | -27.3% |
| 8 | Salt Lake City, Utah | 14.2% | $178,000 | -8.5% |
| 9 | Boise, Idaho | 14.0% | $125,000 | -42.8% |
| 10 | San Jose, Calif. | 13.7% | $632,000 | -26.7% |
| 11 | Washington, D.C. | 13.3% | $430,000 | -29.6% |
| 12 | Tucson, Ariz. | 13.3% | $145,000 | -44.3% |
data source: Kiplinger
As can be seen in the table above, Reno-Sparks would have ranked 4th in one-year price increase. Also of note, Reno-Sparks would have ranked 2nd in change in price since peak.
Don Stacey
Based on your insertion of Reno, we are the 2nd worst market in the country after 6+ years of so-called recovery. Based on a random sample of several dozen homes throughout our area at 2013 values, we are in a range of 1995-2002 prices. Will they rise and bubble again or remain unremarkable for a decade or more?
joey
Don
Actually this is placing Reno as the 2nd BEST market since the 6 years of so called recovery.
joey
Or more importantly the 2nd BEST market in the past year!
Don
Joey,
How can that be? Look at the numbers Guy posted. We are in the last 6 years -52% down in housing prices with only 1 other city worse. That is again —–52% ( minus negative 52% ) with only city worse. How does that translate to best? Are you not seeing the negative sign and think this is a plus 52%? It is negative.
joey
Because this report is based on the last YEAR.