Washoe Nevada Mortgage Refinance
Washoe County, Nevada, which includes the major metro areas of Reno and Sparks, continues to experience rising numbers in home sales. In March 2010, existing homes sales remained strong for the second consecutive month – up 43 percent from February’s figures and 31 percent from a year ago.
Median home prices were also looking good in Washoe in March with a two percent growth from the previous month, sitting at $176,900. This is the third increase in the median price in the past four months; although, it is down by around 12 percent from the same time in 2009. Foreclosures continue to be at the forefront of sales in the housing market and impact the median price.
Cities with the most homes on the market in Nevada include Reno, Sparks, Las Vegas, Henderson and North Las Vegas. These are also the areas with the notable recent home sales. Foreclosures continue to dominate these markets.
The median sales price in May could reflect more accurately where the market is as far as recovery, said Reno/Sparks Association of Realtors President Ken Amundson. May typically begins the momentum for peak housing sales; although the month of May hasn’t revealed a median price increase since 2006. Amundson added that sales volume is the primary factor.