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Posted: 11:37 AM Nov 19, 2009
Report: Reno Home Sales Up, Prices Down
A new report says sales of existing homes in the Reno-Sparks area jumped 59 percent in October from the same month last year, while prices continue to fall.
Reporter: Associated Press Email Address: news@kolotv.com |
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RENO, Nev. (AP) - A new report says sales of existing homes in the Reno-Sparks area jumped 59 percent in October from the same month last year, while prices continue to fall.
The Reno-Sparks Association of Realtors says the median price for an existing home was $180,000, a 22 percent decrease from October 2008 and a 3 percent decline from September.
The median price for condominiums and townhouses was $64,950, down 46 percent.
Association President Kris Layman says the large increase in sales is in indication of how flat the market was last year.
Layman says sales this year have been helped by the first time homebuyer tax credit approved and recently extended by Congress to help the struggling housing industry.
Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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