Reno NV - Housing is appreciating in 2024

[Trevor Richardson]

Reno's median home sales data speaks volumes – up by a remarkable 7.4% from last year! If you've been eyeing the market for the "bottom," it was last year at this time. And here's why:

Key Takeaways:

1) The market is following the original year-over-year appreciation trendline from 2014 upwards, indicating sustained growth and stability.

2) Supply issues in Reno's housing market are once again in focus,

emphasizing the need for strategic solutions to address housing shortages.

3) Exciting developments, like Tesla's massive expansion to manufacture electric semi-trucks in Northern Nevada, will further strain housing availability, signaling continued demand.

4) With increased home prices, we anticipate a ripple effect on rental markets in both single-family and multifamily sectors, driving up rents due to housing unaffordability.

For California investors in San Francisco, Oakland, San Jose, Sacramento the proximity of Reno and stability of investments are attractive.