WHAT ABOUT INVESTING IN THE RENO REAL ESTATE MARKET IN 2019?
Do you want to invest in the Nevada real estate market? Why not invest in Reno real estate in 2019?
Reno is the third biggest city in Nevada and has, over the years, proven to be one of the best cities to invest in real estate. The Reno real estate market is one of the fastest growing markets in the country. The Reno housing market has witnessed increased average home prices, equity gains, and yet, it’s at a traditionally strong level of affordability. With massive price gains comes increased appreciation. Reno real estate is only expected to become more valuable with time.
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Reno Real Estate Market 2018
The fact is, Reno, Nevada hasn’t always been booming like this. The Reno real estate market was actually affected much more than any other market in the country when the housing market collapsed. Reno real estate investors, however, will be glad to hear that equity appreciation has not only stabilized but has also managed to outpace the national average in recent years. This is a good indicator of a growing, sustainable market. So just like Las Vegas real estate, Reno real estate is now thriving.
Other Indicators of a Thriving Reno Real Estate Market
There have been many economic indicators favoring the Reno real estate market. One example of this is how the unemployment rate has dropped from 8.4% last year to 7% this year. The city’s job growth rate is also a considerable rate to mention. The 1-year job growth rate of 3.3% is well above the national average. What does employment have to do with Reno real estate? Well, these are the encouraging factors driving people to move to Reno. This, in return, will definitely benefit the Reno housing market.
These effects have already shined through on the Reno housing market. There has been a number of new construction permits in the past years. To get a better idea, 1,500 new single-family permits were applied for in one year alone. With construction clearly on the rise, real estate investors can definitely expect to find a good inventory of Reno investment property.
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