The hiring ov over 50,000 new employees in N Nevada over the past 2 years—and still happening—has caused a hotbed of housing shortage. Ranches are being subdivided at an alarming rate, and homes are being built. Water for all of these new arrivals is questionable.
The MEDIAN price of a home sold in May in Reno was $420,000-—over $100,000 higher than 3 years go. Also a larger than 5% increase from month before. A “tiny house’ of 600-900 Sq Ft is selling on a ‘tiny lot’ for $250,000 & up & the contractor says she cannot build them fast enough.
My son’s company designs and builds net zero homes. Their company started in Mountain View, CA, but recently they relocated to Reno. The demand is there and there is a shortage of people able to build a quality home. Everyone who can do that has more work than they can handle.
I know a number of Californians that are “getting-out” due to the terrible state taxes. Nevada is seen as a nearby destination. Do you see this as the main cause of the growth?
I can’t see midwesterners paying that for a Reno destination.