Reno, NV - Local Housing Data - Summary

Change location:

Region

State

City

Reno, Sparks, NV

You have successfully subscribed to the local housing data e-newsletter for .

If you wish to receive monthly updates for other market areas please subscribe to new markets using our expanded form.

 
 
 
 
Unlock charts and graphs!

Once registered, see a dozen additional charts on 366 cities around the US.

 
Enlarge

Reno, NV Local News

Newest Figures Show New Home Sales and Prices Rise in Reno

Posted on: Aug 08, 2014 11:44:51 AM

In May, closings of new homes in the Reno, NV market increased year-over-year, and the percentage boost was sharper than April 2014, hinting that the market may be strengthening. New home closings saw a 30.2% boost from a year earlier to 69. In comparison, new home closings in the same month last year saw a 7.4% jump year-over-year in April.

A total of 946 new homes were sold during the 12 months that ended in May, up from 930 for the year that ended in April.

New home closings represented 7.2% of overall housing closings. This is better than the 6.1% of closings a year earlier. Closings of new and existing homes jumped year-over-year in May following a decline in April year-over-year.

Pricing and Mortgage Trends

Average price of newly sold homes saw a 14.1% rise year-over-year in May to $365,320 per unit. This bump is smaller than the 25.4% boost in April year-over-year.

Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. In May 2014, the average mortgage size was $285,539, a 3.0% surge from a year earlier. In April 2014, average mortgage size on newly sold homes saw a 18.5% rise year-over-year from a year earlier.

 
 
 

Change location:

Region

State

City

 
 

Join the Discussion

Please read our Content Guidelines before posting.