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Reno Homes For Sale

Reno homes for sale are just as nice as anywhere else in the state. While Reno may not have all the lights and action of Las Vegas; it also does not have all the big city problems either… However, that does not mean that Reno is a sleepy little backwater with nothing to offer.

Reno homes for sale are abundant, varied with a myriad of styles and options, and most importantly, Reno homes are priced right. And Reno is taking part in the economic recovery just like the rest of the country.

Reno Homes for Sale and the Economy

When it comes to fortune telling, nothing is ever certain; but a handful of industry experts share their thoughts on Nevada’s economy in 2014. This year’s predictions offer more good news than has been reported in Nevada Business Magazine’s annual Economic Forecast in the last few years.

While most economists always err on the side of caution, they seem to agree the worst of the economy is behind us and the immediate future looks a bit brighter.

That trend feeds into the recovery of Nevada’s retail sector, which began mid-2010. Annual growth rate overall since then has been about 6.1 percent, and 2013 saw retail averaging 5.4 percent growth.

Traditional retail categories, like clothing, electronics and cars, have been slower to bounce back, but even those categories have seen an increase of 5.5 percent since 2010, and in the first eight months of 2013, an increase of 7.2 percent.

Retail anticipates an approximate 4 to 4.5 percent increase in sales in 2014 with traditional categories expected to increase a possible 6 to 7 percent.

Reno Home Sales Are Getting Stronger

According to the Reno Sparks Association of Realtors, May’s unit sales were the third highest for a May in the history of MLS.

For people with good jobs and strong credit, today’s real estate market is an attractive one with low mortgage interest rates and continued affordability.

However, many first-time Reno home buyers are struggling to enter the market and don’t always find the home buying process easy. Things like tight credit, limited inventory, higher home prices and rising mortgage interest rates are hindering first-time buyers.

Traditionally, first-time buyers are instrumental in housing recoveries because they help existing homeowners sell and move up. Therefore, it’s important to make sure first-time buyers who are able to purchase a home have the ability to do so.

May 2014 median price was up 2.8% to $236,500 compared to $230,000 in April 2014 and up 8.5% compared to $218,000 in May 2013.

Reno Homes For Sale- Now Could Be the Time to Buy

With the Reno real estate market recovering, and the abundance of affordably priced Reno homes for sale today, it could be a great time to buy that Reno home for yourself. Contact your Reno real estate experts below for more information…

Reno Homes For Sale

 

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