Housing Market

According to Redfin, home prices in Nevada were up 9.7 percent year-over-year in February 2024. At the same time, the number of homes for sale in the state fell by 20.8 percent. While home prices are on the rise, the supply of homes for sale is not meeting demand, creating what is considered a “tight” housing market across the Silver State.

Officials trying to get $60 million out the door by the end of the year on behalf of Nevadans who have fallen behind on rent have disbursed about $2 million so far, according to progress reports provided to a state housing committee.

COVID 19 and Real Estate – What You Need To Know- One Realtors Advice.

Nevada’s response to the COVID-19 pandemic has restricted the activities of many local businesses that aren’t considered “essential.” Realtors are among the list included in essential businesses, so are lenders, title companies, and banks.
With that said and with direction from Nevada Realtors Association at the state level there are some things to be aware of.

March is here and that famous groundhog saw his shadow, a recent article on CNBC suggests spring will arrive early this year — at least when it comes to the housing market. In fact, some are speculating that January may very well be the new April.

What’s causing this already-busy buying season to kick off ahead of schedule? Low inventory and rising home prices are spurring house hunters to come out of hibernation months before they previously would have.

The temperatures may be dropping outside—but for house hunters, things are just about to start heating up.
First, let’s look at the numbers for Carson City in 2019:
How did the housing market do in 2019?

There are several housing developments for Carson City currently in different stages of review, and one such development is the Andersen Ranch Development, named for the Andersen family who has farmed the Carson City region since the 1870s. This new development is not to be confused with Buzzy’s Ranch on the eastern side of Carson City, also named for the Andersen family.

Housing prices for both homeowners and renters alike in Carson City have been climbing as the housing market increases, but wages aren't following suit. There is housing available in Carson, but in some cases they're remaining empty, as some simply can't afford to pay the high costs of living anymore.

Because of the historic inventory shortage, competition for homes has been steep, and prices have been rising sharply in markets across the country as a result.
But according to a recent report, it looks like that’s (finally) starting to change, spelling good news for buyers.

According to recent data from Zillow, 14% of all listings in the United States had a price cut in June 2018, and since the start of the year, the share of listings in the US that had a price cut increased by 1.2 percentage points—the largest January-to-June increase since Zillow started collecting data.

Carson City Nevada homes have seen steady price improvement month to month as well as year to year as inventory levels remain at all-time lows.

The Numbers Month to Month and Year to Year:

The median sales price for Carson City, NV homes for sale was $292,000 in July 2018 compared to $315,000 during June 2018 and $259,950 in July of 2017.

The number of Carson City, NV homes that sold was 57 in July 2018 vs. 80 in June 2018 and 72 that sold July of 2017.

Carson City Market Report for the Month of June: Carson City Nevada homes have seen steady price improvement month to month as well as year to year as inventory levels remain at all-time lows.

Are you aware that June is National Homeownership month?

Probably not. Because you’re too busy working to afford the home you live in, whether you rent it or own it.

Why should you care?
If you poke around and read anything you can find about it, you’re being urged to recognize and celebrate the benefits of homeownership.

That seems kind of a weird thing to ask you to do. Do you really have the time or care? What’re you supposed to do, throw a party? Sit alone and contemplate it? Invite some friends out for coffee and chat about it?

On July 27th, 2017, Lynn Beteag, Managing Director, of Nevada State EB-5 Regional Center was a guest speaker to the Reno/Sparks Association of REALTORS. The topic of Beteag’s presentation “The EB-5 Program - Access to Capital through Foreign Investment” explored how local businesses benefit from foreign investment and foreign workforce talent.

Nevada led the nation in job growth in 2016 according to figures from Gallup’s 2016 Job Creation Index released Friday. In 2009 and 2010, Nevada ranked last among the states.

Sometimes Hollywood hits a homerun.

For example, The Big Short, the movie account of the US financial collapse of 2007-09. Its all-star cast is notable. But we were skeptical from the sound bites used in previews and other promotional blather that this would be another anti-capitalist propaganda flick. We were wrong.

A federal lawsuit involving Carson City rental property owners has ended with a settlement agreement to resolve allegations that they discriminated against families with children in violation of the Fair Housing Act.

Be smart before choosing a home to rent to save money — and improve peace of mind down the road. With Northern Nevada’s housing market tightening up, and rents rising, it’s going to become even more critical to be strategic when looking for a House to rent in Carson City, Minden or Dayton.
Here are just a few items to consider in your search for a house to rent.

CARSON CITY — State officials are dimming the lights and preparing to phase out an ambitious but short-lived program initially intended to help people stay in their homes as Nevada's housing market crumbled and home values plummeted during the Great Recession.

Las Vegas’ once-battered housing market has improved the past few years but remains riddled with problems such as foreclosures, underwater borrowers, flat wages and high unemployment. So why are Republicans in the Legislature pushing an overhaul of Nevada's construction-defect law as a way to boost...

Here is the full text of Nevada Gov. Brian Sandoval's speech delivered to the Nevada Legislature Thursday, Jan. 15, 2015.

Mr. President, Mr. Speaker, Distinguished Members of the Legislature, Honorable Justices of the Supreme Court, Constitutional Officers:

Lyon County, Nevada was the fastest-growing county in the United States prior to the 2008 economic collapse took one of the biggest hits statewide in the foreclosure crisis. The state overall was one of the hardest hit nationally and the housing market is still in recovery.
A glimmer of hope was seen in 2013, as home values headed up while foreclosure rates headed down, according to a report from the Lied Institute for Real Estate Studies at the University of Nevada Las Vegas.

Nevada Sen. Harry Reid said he's pleased the Obama Administration has provided a second extension of the Making Home Affordable Program.

“Nevada has been hit the hardest by the housing market crisis. It is imperative that we work to help struggling homeowners who have lost so much in something that they have worked so hard to keep," said Reid in a press statement.

The Carson City Chamber Board of Directors has launched Dialogue 2013 to gain verbal community input on why people live, work and play in our city. What is the draw that keeps them here? What is the 20/20 vision for 2020 and how will we get there in these uncertain times?

The Carson City Chamber of Commerce sent an alert out Wednesday noting that Carson City is one of 15 cities to show rebound in the housing market, according to the Business Insider.

CARSON CITY – Nevada’s taxable sales climbed by 5.1 percent in April over April 2011, continuing a 22 consecutive month trend of positive numbers for the important economic indicator, the state Department of Taxation reported this week.

The $3.5 billion in taxable purchases in April were buoyed by double-digit gains in several major categories, including construction; up 16.1 percent, merchant wholesalers-durable goods, up 10.2 percent; and motor vehicle and parts dealers, up 10.5 percent.

RENO – President Barack Obama made a brief stopover here today, visiting with a couple who refinanced their home through a White House initiative helping underwater homeowners who have government-backed loans.

After meeting with Paul and Valerie Keller, Obama urged Congress to expand the Home Affordable Refinancing Program (HARP) to other mortgages as well.

CARSON CITY – A new report questions the value of tax incentives and regulations approved by many states around the country, including Nevada, to create “green jobs,” noting that subsidies used for such programs can take away revenue for other needs such as public education.

CARSON CITY – Nevada’s taxable sales rose 9.6 percent in November over the same month a year ago, driven in large part by car sales and improved business at bars and restaurants, the state Department of Taxation reported today. Taxable sales totaled nearly $3.4 billion for the month.

For the fiscal year that began July 1, 2011, taxable sales are up 8.5 percent through November.

Clark County sales were up 8.6 percent. Washoe County sales were up 5.3 percent.

Bob Fredlund wouldn't say the housing market is turning around, even as he waded through the sawdust of a half-built home and lauded its craftsmanship.Fredlund, a real estate agent with Coldwell...

Nevada Attorney General Catherine Cortez Masto and Nevada Assembly Majority Leader Marcus Conklin announced that the new ‘Foreclosure Fraud Reform’ law will take effect on October 1, 2011.

It's been almost two years since I first heard about the Nugget Project.

Back then, the plan was very vague, a public-private partnership that could add up to $90 million. The city's part of this project would be a 1/8th cent sales tax increase and money from the redevelopment fund equaling approximately $25 million.