July 22, 2014
RENO, Nev. (AP) - Home sales in Washoe County dipped slightly from March to April but still posted a double-digit gain over the same period a year ago.
The Reno-Sparks Association of Realtors says the sales of existing single-family homes rose 17 percent from April 2011. The 509 homes sold last month was 5 percent less than the month before.
The median sales price was $152,500. That's up 2 percent from March but down 2 percent for the same period a year ago.
The activity is being fueled by a high volume of bank-owned and short-sale transactions, according to Brian Kaiser, a housing and real estate analyst for the Center for Regional Studies at the University of Nevada, Reno.
Kaiser says the supply of bank-owned homes is diminishing as short-sale listings rise.