Reno
Real Estate News

The Greater Las Vegas Association of Realtor (GLVAR) reported Friday that more existing homes were sold in Southern Nevada in 2016 than in 2015, even with a tight housing supply and rising home prices.

The Baird/STR Hotel Stock Index decreased 0.8% in October 2016 to close the month at 3,108. Year to date, the index remains up 0.4%. Hotel stocks outperformed in October amid low investor expectations and rising interest rates.

According to the Mortgage Bankers Association's Builder Application Survey for September 2016, U.S. mortgage applications for new home purchases increased 3 percent relative to September 2015.

According to the National Association of Realtors, U.S. pending home sales expanded in most of the country in July 2016, and reached their second highest reading in over a decade. Only the Midwest saw a dip in contract activity last month.

Sales of newly built, single-family homes in the U.S. rose 3.5 percent in June 2016 from an upwardly revised May 2016 reading to a seasonally adjusted annual rate of 592,000 units.

According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending June 24, 2016, U.S. mortgage applications decreased 2.6 percent from one week earlier.

268,000 U.S. homeowners regained positive equity in Q1 2016, bringing the total number of mortgaged residential properties with equity at the end of Q1 2016 to approximately 46.7 million.

Local home prices heated up in May 2016, as the housing supply remained tight. GLVAR reported the median price of existing single-family homes sold in Southern Nevada during May increased to $229,250. That was up 8.5 percent from $211,250 one year ago.

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