New Home Sales Rising in Reno - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

New Home Sales Rising in Reno

Posted: Updated:

Reno is listed as one of 242 U.S. cities that is showing continued improvement in the housing market, which is good news for one part of the job market too.

Home prices are going up and interest rates are still hovering around 3.5%.

But there aren't that many houses on the market, so more people are buying new homes.

Barbie Marcoe is a sales agent for KDH and Jenuane Communities and says they are expecting a big year.

"We are seeing incredibly increased traffic," Marcoe said. "We actually sold two houses, this weekend, alone. Out of town buyers are hitting us hard."

KDH and Jenuane Communities had 40 building permits, last year.

In 2013, they are expecting to get 100.

That's not just good for real estate, it's also giving a boost to Nevada's struggling construction industry.

"It's fantastic because it's not just the builder who is employing the people who work directly for him," Marcoe said. "It's the roofers, it's the city taxes that are being paid, it's the landscapers. There are so many entities. As you can see here, we have probably three different companies represented, right now."

Some of their homes are actually being built on a site that was left vacant by a different builder when the housing market crashed.

Now the company is just trying to keep up with demand.

"We're selling homes that won't be ready until April, just because that's what's available," Marcoe said.

The median home price in Reno is $182,500.

That is almost $50,000 more than just one year ago when it was the lowest since the recession hit.

That trend is expected to continue.

"I don't know that you could get a house, in Reno right now, for $185,000 because just about everything, in that price point, is already pending."

Marcoe says she thinks one of the reasons the market is stabilizing is because people are buying a home, rather than investing in a house.

"They're making sure that the floor plan fits what they're looking for," Marcoe said. "When we walk into a home, now, people are actually paying attention to what's in the kitchen and making sure it's fitting what their family needs."

Marcoe says the prices for new homes are close to what existing homes are going for.

She also says you can have a low payment because of low interest rates, and a lower power bill because most have high energy efficiency standards.

Written by Paul Nelson
  • NewsMore>>

  • Reno 1868 FC Continues Hot Streak with Win Over Portland

    Reno 1868 FC Continues Hot Streak with Win Over Portland

    Sunday, September 24 2017 2:18 AM EDT2017-09-24 06:18:21 GMT

    Reno 1868 FC players are once again kings of goal scoring in North America after the team recorded six goals in a rout of Portland Timbers 2 Saturday night. Playoff-bound Reno crushed Portland 6-1 in front of 5,640 fans, putting the club up to 69 regular season goals this year (a USL record). 

    More >>

    Reno 1868 FC players are once again kings of goal scoring in North America after the team recorded six goals in a rout of Portland Timbers 2 Saturday night. Playoff-bound Reno crushed Portland 6-1 in front of 5,640 fans, putting the club up to 69 regular season goals this year (a USL record). 

    More >>
  • Nevada Blown Out at Washington State

    Nevada Blown Out at Washington State

    Sunday, September 24 2017 12:08 AM EDT2017-09-24 04:08:01 GMT
    -Nephi Sewell posted a career-high 10 tackles, the first double digit tackle performance of his career. Sewell also recorded his first career interception in the middle part of the fourth quarter at the Washington State 8-yard line. -Sophomore RB Maliek Broady got the first carries of his collegiate career in the fourth quarter, finishing with four carries for 17 yards and scoring Nevada’s lone TD of the game, the first of his career. -CB Ahki Muhammad forced a fumble in the t...More >>
    -Nephi Sewell posted a career-high 10 tackles, the first double digit tackle performance of his career. Sewell also recorded his first career interception in the middle part of the fourth quarter at the Washington State 8-yard line. -Sophomore RB Maliek Broady got the first carries of his collegiate career in the fourth quarter, finishing with four carries for 17 yards and scoring Nevada’s lone TD of the game, the first of his career. -CB Ahki Muhammad forced a fumble in the t...More >>
  • Crews Work to Restore Angora Fire Site

    Crews Work to Restore Angora Fire Site

    Saturday, September 23 2017 8:43 PM EDT2017-09-24 00:43:12 GMT

    Saturday marked the 20th annual Tahoe Forest Stewardship Day in South Lake Tahoe, where members of the Save Lake Tahoe as well as residents helped with restoration efforts near the Angora fire site.

    More >>

    Saturday marked the 20th annual Tahoe Forest Stewardship Day in South Lake Tahoe, where members of the Save Lake Tahoe as well as residents helped with restoration efforts near the Angora fire site.

    More >>
Powered by Frankly
All content © Copyright 2000 - 2017 Sarkes Tarzian, Inc. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.